When it comes to Goldman's view (it's real view, as represented by its prop and flow traders, who actually put their and the firm's and clients' money where their mouth is, and not client-facing researchers like David Kostin whose only job is to create a sellside consensus echo chamber into which to sell) about what the market will do in the last two months of the year, there is no confusion.
As we described in mid-October (see "Why Goldman Expects A Huge Market Melt-up In The Coming Weeks"), then again one week later (""Euphoria Is Increasing": Goldman Doubles Down On Market Meltup Call, Sees $90BN In New Stock Buying This Week"), only to repeat last week (in "Shocked Goldman Trader Admits "I Could Never Imagine Typing These Large Numbers") at which point others on Goldman's trading desk also chimed in (Goldman: "Start Thinking Like 1999. Watch Your Shorts. This Is A No Rules Market"), Goldman has been steadfast in its conviction that with billions in new money entering the market every single day, there is only one way stocks can go.
Much higher. Which is precisely what happened until last week when we had a sharp, if brief selloff, following the shockingly high CPI print, only to see another round of BTFD unleash even more levitation.