U.S. equities just keep marching higher on a low volume Santa Claus ramp.  Favorable technical patterns, though not confirmed by volume, keeps the dip buyers hanging in there.

We spoke of the inverted head and shoulders pattern in the S&P500 earlier in the week and this chart of the Trannies comes to us via James K.   Thanks!

We shall see how this plays out into the New Year.  A sustained rally will need be confirmed by the Shanghai, at the very least, bottoming and ending its free fall.   Enjoy the sleigh ride,  nevertheless!

(click here if chart is not available)