We finally did see a little dip in stocks, but nothing terribly significant. Unless there is some breaking news on stimulus, vaccines or some other world event, the S&P should range about current levels. The level 3758 is significant at new all time highs, and its doubtful we will have the strength to break this, barring some new event. The sideways correction should hold between 3714 and 3758, and could make for some great range trades. A significant dip would be 3694 or lower and would represent a buying opportunity. Watch for the markets to dry up as we head closer to the new year.
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