It was a quiet, holiday shortened, week in the markets with the S&P 500 Index drifting slightly higher by ~0.3% toward the all-time highs of 2 years ago of ~4800 in the SPX: However, Santa could not pull us through the strong resistance at this level and

It was a bit of a rocky week for US equities with a scary drop in prices on Wednesday and poor liquidity as investors/traders focussed on the holidays. However the SPX (S&P 500 Index) still managed to close up close to 1% from last

Well, Santa sure pulled us through that strong resistance zone at ~4600 in the SPX (S&P 500 Index) and US equities closed the week up ~2.8% from last week’s close after 2 weeks of sideways consolidation:

It was the second straight week of trading in a narrow (~50 point) range and below the important 4600 level in the S&P 500 US Equity index (SPX) although the index did move slightly through the prior pivot high