2pm update - minor afternoon chop

A micro pull back, with the smaller 15/60min index cycles offering a chance to slip to 1824/22..before renewed upside into the Christmas eve early close. VIX remains weak, -3.4% in the low 13s. The momo stocks remain strong, with gains of 4-5% for FB and the TWTR.


sp'60min

Summary

Without getting lost in the minor noise..what is clear on the hourly chart...

Underlying MACD (blue bar histogram) cycle has already reset 50% - whilst prices have managed to keep rising, and considering the general outlook, we should see some further strength later this week.
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Right now, the only issue is whether we close this week in the 1830s...or the 40s.