The sp'500 and the Nasdaq are the first two indexes to achieve fractional breaks above the Dec' 16th FOMC high. Considering it remains holiday trading conditions, the algo-bots will have high opportunity to melt the market upward to around sp'2090 by the Thursday close.
It remains pretty quiet out there in market land. Most are understandably just waiting for the Thursday closing bell, with another 3 day holiday weekend due :)
For the moment, there remains zero reason to be shorting anything.. even Oil.
Indeed, look to the next set of oil inventory reports. Another net draw down would give Oil the excuse to push another $1 higher.. and continue the attempt to hit the $40 threshold by mid January.
Of course... NOTHING has been resolved in terms of over supply, and the same is true of the mining industry.
Capitulation is yet to occur.
Meanwhile.. DD are sending an early new year message to those in Delaware.
As even the cheerleaders on clown finance TV recognise, the merger of Dupont and Dow Chemical is going to lead to sig' job losses.
Collectively, the two companies employ around 110/120k. It is probably safe to assume high level management will wish to knock at least 15/20K off that number by late 2016.