The equity bulls are continuing to run with the baton this morning, as both the ES and NQ are up double-digit levels.
Taking note of the beginning of 2010, we had a similar situation. That is, the 31st of December was soft, and the beginning of the new year was very strong. This strength continued for a couple of weeks, started to lose its momentum, and then finally gave way. This is of course no assurance of a repeat – we're just dealing with one data point here – but I thought it would be worth mentioning.
