As we head into the last few days of 2025, Santa’s Rally has taken us to new highs in the SPX (S&P 500 Index) with the Index closing the week 1.4% above last week’s Close:

It looked like being a down week in the US equity markets until a late surge on Friday lifted the SPX (S&P 500 Index) back into the 6700-6900 range where it has been consolidating for a few weeks:

As we wind down a year that has been generally bullish, following the 20%+ pullback in prices resulting from reactions to the tariff scare in March, we are consolidating near all-time highs in the SPX (S&P 500 Index) with resistance being seen at ~6900 level:

US Equities continued their slow drift higher on average volume this week, with the SPX (S&P 500 Index) closing the week ~0.3% higher than last weeks close and ~ 50 points below the all-time highs reached on 29 October :

As November comes to a close, US Equities closed on a positive note despise low volume on a trade-shortened week ahead of the Thanksgiving holiday: Based on the previous bullish channel that I had constructed many weeks/months ago we have bounced back into that channel and, at this point I would reconstruct my bullish channel […]

This week saw a pullback in US equities as the SPX (S&P 500 Index) closed ~2% lower than last week’s close: