S&P 500 approaching previously stated levels

Two levels I mentioned in a previous post: the 1261 - 1265 range and 1296 to 1300 range.

These are the next significant levels, so watch for selling in the new year.  Remember no way the markets can disappoint Santa, higher the market goes up more people shop, translating into a "recovery".  That is the plan of action.  So I do expect that drifting higher for a bit longer, but  January / early February could be an interesting time.

I think the January options expiration (Jan 22) week will be an interesting one.  It will be interesting to see how the holiday numbers come out this year, I have a feeling that they are decent but honestly hope they are not very good as that means people have finally realized that they need to retrain their spending to pay off their debt.

Strange thing is the continued divergence with Gold / silver and the markets.  As the markets drift higher, gold and silver have flat lined.  I have a feeling they will converge quickly, either gold / silver jumped 2-3% or S&P 500 falls 2-3% or a mixture of gold/silver up and S&P 500 down.

As you can see since December 9th, silver has not gone anywhere.  Last 3 days have been exceptionally quite.

Not sure which direction but this beast might come alive soon.