As you may have seen, I have been focusing on the Dow Jones Industrial index "The Dow." It looks like, even with yesterday's fairly good rally, the U.S. stock market is struggling to really make a run towards new highs. There is too much uncertainty heading into December with the Fed, as well as tax ramifications.

I believe we will start to see a "distribution" period which means stocks should go sideways to lower heading into December, or heading into the end of the year, barring any unforeseen bullish catalyst. I think the main bullish catalysts are fully priced into the indices.