All of the major stock-market averages — the S&P 500
the Dow Jones Industrial Average
and the Russell 2000
— traded at new all-time intraday highs on Monday and all but the Russell 2000 closed at a new all-time high as well.
In addition, we are in a period of bullish seasonality: the “Santa Claus rally” encompasses the last five trading days of this year and the first two of the next year. With that kind of momentum, we don’t want to fight it. The trend of the charts is still higher.