See on the daily bar chart for the March e mini S&P futures that bulls are keeping alive a choppy price uptrend. The bulls have time and time again show keen resilience on market sell offs by driving prices to new highs. Can they do it again? Recent history suggests they can. Fundamentally, there is one element that has changed in favor of the stock market bears: the specter of tighter central bank monetary policies in 2022. Historically, rising interest rates and inflationary pressures have hurt equities markets. Stay tuned—Jim Wyckoff