So, as we say goodbye to 2020 - and hello to 2021 - we have a new year to consider and hopefully one where Covid19 becomes a less of news item as the year progresses. But for now, Covid19 (and the consequences of Brexit for those in the UK), is all we have to work with. The Nasdaq finished near its highs but did edge a 'sell' trigger in the MACD. Other technicals are net positive with the index improving in relative performance against the Russell 2000.

As Christmas approaches there wasn't a whole lot to add on today's trading. Indices were mostly able to add a little on yesterdays bullish reversals, although most of the games were booked at the open and stayed there for most of the day.  Only Large Caps suffered some weakness, but it was pretty modest.  The Nasdaq managed a new closing high on lighter volume. Technicals remain nest positive, although the index is still underperforming relative to the Russell 2000.

Friday's volume selling spiked on December expiration which will have clouded the intent of the sellers - be it confirmed distribution or mild selling.  With Christmas week next week we can expect trading volume to fall and likely remain low until January.  Buyers were able to recover some of Friday's losses by the close of business for both the S&P and Nasdaq with only the Russell 2000 losing ground. However, no index lost significant ground or broke price support.  Friday's Nasdaq trading intraday range was narrow as technicals remain bullish

After Monday's disappointing selling, Tuesday and Wednesday saw the return of sufficient buying to negate the bearish taint left over from Monday. The S&P now looks primed to push past last week's swing high peak of 3,712, following the Nasdaq which has already managed to achieve this. The buying in the S&P was less, volume wise, than recent selling, so we are not looking at a significant increase in the amount of buying, probably more the case there is a reluctance from sellers - or at least - longs holding big gains and looking for more, than selling. Technicals remain the same, with 'sell' triggers for the MACD and On-Balance-Volume.