SPX and COMPQ: Stuck in the Middle with Ewe

NOTE:  Monday's update contained a detailed addendum that's worth reading if you missed it: Why is the market rallying during QT? Whence Comes the Liquidity?

The bottom line with this market right now is that it's caught between major long term resistance and potential support.  The following charts illustrate this:  

Long-term SPX:

Long-term COMPQ:

In conclusion, we can see the conundrum in the charts -- in short, until there's a breakout or breakdown, pretty much everything in-between is noise.  Hence, I see no point in blathering on with endless speculation in the meantime, as that could in fact be counterproductive.  Trade safe.