As 2010 winds down will the markets continue moving up?

Equities for the most part this year have enjoyed very impressive gains especially in the commodity space and in tech land. So with 3 trading weeks left in the year and with Christmas and New Year’s affecting the trading mix, how much higher can stocks go? Technically speaking if you take a look at the S&P 500 the broadest index of the big 3 you can see from the chart it is in a potential breakout mode, the same rings true with the Nasdaq, and the Dow appears to be setting up for a breakout as well. What this perma bull needs to see is significant volume in order to confirm a breakout. With the holidays approching typically volumes ebb, however if the markets are able to experience a big volume day to the upside, this would confirm the breakout and we then could be in for a real Santa Clause rally 🙂 Let’s see what happens and good luck to all.

Have a great week.