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The market has spent nearly the entire week in a tight range, frustruating both bulls and bears.

Equity-only put-call ratios have continued to remain on buy signals, despite some occasional heavy put buying during the week.

Market breadth has been strong, for the most part.  As a result, breadth remains on a buy signal, too.

Volatility indices ($VIX and $VXO) have drifted down to very low levels.  In general, the decline in volatity is bullish for stocks.

In summary, the intermediate-term indicators are all bullish.  The only problem seems to be the possible overbought conditions in breadth and $VIX.

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