A Holding Pattern

Stocks remain in a year-end holding pattern, meaning they’re getting plenty of support from algos.  SPX had a shot at its SMA10 yesterday, but seems undecided between its 2.24 extension at 2703.62 and a backtest of its SMA10, currently at 2675.41.  It’s a whopping (sarc) 1% spread which simply won’t make a difference.Things could get interesting if SPX drops through its SMA10.  But, after all the pushing and shoving it took to get here, is that likely?

continued for members


Sorry, this content is for members only.

Click here to get access.


Already a member? Login below

Remember me (for 2 weeks)

Forgot Password