Where the Stock Market is Heading In 2018

Trying to determine were the Market is heading in 2018 s quite a tricky question to answer. The McClellan Oscillator, shown above, is showing huge positive divergence. The last time it showed positive divergence was August 2017, where the Market ended up making a huge bull run. Based on the chart above, I will make a case for the bearish/bullish case and I think the reader should pick what they feel is the better argument.

Arguments for a significant bottom and the Market is going higher: 

1. The McClellan Oscillator is shown above recently hit a record-breaking reading of -350 (when done in the past, which is rare, it ends up tiring the bears out).
2. Positive Divergence is shown with recent price action. 

Arguments this is an oversold bounce and the Market is going lower:

1. The McClellan Oscillator and NYSI Summation Index (both indicators derivative of each other) are not showing impressive positive breadth numbers, which leads me to believe the Market is topping out, but I've been wrong for over a year.

To answer the question where the Market is heading? Based on the information I use to read the Market, I would say it could go either direction.  I'll let the reader come to their own conclusion based on the chart posted above!