Closing Brief

The main indexes closed moderately higher into the Christmas Eve close, with the sp' +5pts @ 1833. The two leaders - Trans/R2K, both settled up 0.4%. Market looks set for further gains into year end, and at least the first 2-3 weeks of 2014.


sp'daily5

VIX'daily3

Summary

For the equity bulls, Santa has been delivering presents for much of 2013..so today's close in the sp'1830s certainly isn't surprising.

With the QE-taper uncertainty out of the way, there is NOTHING to stop this market from pushing higher into early 2014.

Best bullish case by late Jan is Dow 17000, with sp'1900s. Those will be tough to achieve, but if earnings are 'reasonable' in January,...then those levels are most certainly viable.

For those of you leaving into the sunset...

Enjoy your day away from this lunacy...and most certainly...Merry Christmas :)
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*I'll probably post something later in the day.