Net liquidity is likely to deteriorate over the next 1-2 months, as QT continues, and Yellen sells more treasuries onto the market.
Christmas rallies are a thing in bull markets - not so right now.....
Next week is a big week, with US November CPI and FOMC meeting. On CPI numbers, you rarely get consecutive good numbers during periods of high inflation - it could be the trigger to send the market to Hades. I am waiting until after the FOMC meeting to make any further moves.