The Bull Market continues, and the S&P 500 closed above the 3164 Level towards 3200 first discussed back on November 3rd. Trade logic suggests the market consolidates; however, the bias and trends remain up in this expanding range, favorable environment.
For the week, the Option Implied Move is + / - 46 points or 13.55% implied volatility with a range of 3215.17 and 3122.43.
Known catalysts are plenty with Economic Releases, Fedspeak, and select Earnings Releases.
Merry Christmas, Happy Holidays, and Happy New Year. The Market Note will resume in 2020.
All the best,