SPY Respecting Technicals in the Face of Uncertainty

Hello,

Here is an updated SPY chart for everyone to consider.

My analysis is on the chart but here are a few things I'm concerned about

Bull Concerns:
Bulls got news today but wasn't able to break a crucial technical level. (350-351)
We have several gaps from our parabolic move that we will need to fill.
It looks like we may be respecting a technical downtrend that was an extension from Octobers downtrend. We have 2 daily touches so far and we're working on a 3rd.
Overall the PCCE ratio is actually too bullish. Meaning there may not be as many buyers in the market right now.

Bear Concerns:
Stimulus, Stimulus, Stimulus - Right now, I think this will be what the market needs to regain some bull structure.
Uncontested Election - We are able to verify that we will have an easy transition of power

Most of my thesis relies on the technicals, as that's what I love. But you must always consider the fundamentals as well.

This is my analysis and any decision that you make is yours, and yours alone.

SPY