The S+P 500 made it through the 200 MA today, so will be interesting to see what happens in Dec. The market might get more momentum going, but I figure we'll at least see a re-test of that 200 MA area (4050). But then 4300 (Aug high) is looking possible by year end.
The DJIA has already exceeded its Aug high, but looks like it could use a breather before long. The S+P 500 has lagged the DJIA, and the Nasdaq has really lagged, and I figure the DJIA could have a sizable pullback while the S+P 500 basically holds its own. Time will tell, should be interesting.
Looks like the next data point to watch is the PCE inflation number tomorrow morning, and then the Nov jobs report on Friday. The CPI number will come on Dec 13 during the two day Fed meeting. Numerous geopolitical events could also torpedo things, though that's been the case all year. Today's big move suggests that the stock market wants to stay in recovery mode unless something big stops it.
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