There is just one trading day left of 2015, and regardless of the exact close, it has been a pretty messy year. The sp'500 has largely traded within the 2000/2100 zone, with a brief venture to a new historic high of 2134, then imploding to the Aug' low of 1867, before clawing back into the 2000/2100 zone.
*Transports remain a literal train wreck, holding a consistent downward trend since peaking at 9310 in Nov'2014.
The 'old leader' continues to warn of trouble in the broader market, as the 10MA (8150) is holding as powerful resistance.
As things are, the sp'500 is set to attain a third consecutive monthly close above the key 10MA. Certainly, its been a bit of a struggle, but for now, there is little reason to get bearish in the immediate term.
Again though, other world markets are equally important, and most of them aren't looking so pretty.
Thursday will see the latest weekly jobs. Far more important though, the Chicago PMI. Market is expecting a borderline recessionary 50.0 print. Any outcome in the 51/49 zone should not inspire the econ-bulls.
*It will be a FULL day of trading in equity land, with a normal close at 4pm EST.
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Goodnight from London