Today’s commentary is identical to yesterdays. This could potentially be a quiet two weeks because its year end and due to last weeks rally, most funds will be looking to make sure the gains are booked. Headline news, especially from Europe and Russia are risks that are being reflected in the VIX. But the powers that be want to see this year finish with gains and will act appropriately to lock in those gains.
The US market is overbought and it’s going to require a two day pullback to offer high probability edges.