S&P 500 Update 4 December 2025

Consolidating

Last week’s good Thanksgiving bounce has run into strong resistance despite the lure of a US rate cut on Wednesday. Like Bitcoin we think that there could be an Xmas rally which will hit a lot of resistance, in this case around the all time highs. We’re nearly there.

A move up to trend resistance at 7,040 is possible but more likely is a third retest of 6,550 which is now a big psychological level.

Maybe it’s best to revisit the market on 5 January.