Which Will Prevail?

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The intermediate-term S&P 500 remains bullish. It has come out of an impressive bottoming pattern, it is well above its ascending trendline, and any dips it has had over the past five months has been inconsequential.

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However, the index its mashed up against the underside of several important technical levels, plus the short-term chart doesn't exactly scream "ready to explode to the upside"………..

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