It is promising that all of the major indices are consolidating at the two-day high, but Deron Wagner would not be surprised to see choppy price action until after the New Year.
The stock market indices were flat today, but early on came on strong and made new rally highs as the Nasdaq 100 reached up toward the 2297-98 area, and the S&P 500 jumped up toward 1269, achieving the 1268 target for today.
None of the upmoves in Bank of America (BAC), Goldman Sachs (GS) and Morgan Stanley (MS) inflicted significant damage to the still dominant downtrends.
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