Holiday week gains

It would seem the market found an excuse for a pre-holiday washout, achieving a higher low of sp'2070. Now it is merely a case of whether we'll see net weekly gains (>2089). Equity bears look very weak, and there is now threat of a straight up run to the 2150/70 zone by the next FOMC of Dec'16th.


sp'weekly7

Summary

A net weekly gain looks increasingly likely.. and indeed, we look on track to settle this week in the sp'2100s.. with new historic highs now seemingly due by mid December.

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Looking ahead

There is a truck load of econ-data due...

Durable goods orders, weekly jobs (a day early)
Personal income/outlays, house price index
PMI service sector, new home sales
Consumer sent'
EIA oil report, Nat' gas report
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Since Thursday is closed, price action in the latter half of tomorrow will likely be extremely muted.. as many traders will be not want to get involved ahead of the holiday.

So.. once we get the data out of the way.. by 11am.. indexes will likely flat line.
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Goodnight from London