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Leavitt Brothers Weekly Update:

http://www.leavittbrothers.com/pdfs/lb%20weekly%2020161211.pdf

The Bottom Line

The market ignored some short-term warnings and jumped again last week. All the indexes are at or very near all-time highs.

The market cannot continue at this pace, but it would not be wise to guess when the momentum will slow.

The FOMC meeting next week could be a turning point - not a turning point with regards to the trend, a turning point with regards to the pace of the advance. Perhaps once it's officially over, Wall Street will realize enough is enough and a little prudence is necessary.

Anything goes in the near term, but I'm confident more highs will be made in the weeks and months ahead.

For now the long term trend is well supported, so the rally should have legs into the new year.

Have a great week.
Jason Leavitt [e-mail]