The S&P 500 is near a make-or-break moment that will decide the bull market's fate

• The S&P 500 is sandwiched between two key technical levels, and the next phase of the bull market can't continue until a breakout occurs.
• Bank of America's Stephen Suttmeier outlined the key technical levels to watch on the S&P 500.
• Year-end seasonality is about to turn bullish for the stock market, he said.

The S&P 500 is approaching a make-or-break moment that will determine whether or not the next phase of the bull market gets underway.

The index is sandwiched between two key technical levels: its rising 200-day moving average, which is acting as a form of support, and its declining 50-day moving average, which is acting as resistance.