Christmas Rally for the past two days as the Market rallies and there could be a chance for good bonuses.
Traders broke through the resistance at 1426.25 and gapped up to 1428 and never looked back. This week we have seen very low volume. As you can see there is price divergence and volume inequality on these moves up showing weakness on the buyers side. The Christmas Rally has historically been in the first full week of trading.
The first two weeks of December has been very consolidated with one move up and then this continuation move that started on Monday. With a move of 31 points controlled by buyers we could see a continuation of this move to 1450 to a swing high move of 1458. This is on low volume again which could prove to be volatile as there is not a large ask if the buyers do step in. This is also Options Expiration week. Watch for some volatility going into Thursday and Friday as the dealers/traders adjust their positions and decide to hold into the holiday and into the New Year.day trading course
