Stocks have yet again approached the all-time highs, but on volume that wasn't this low in months – that's a red flag. The stimulus talks haven't really progressed, but there is no jittery sentiment as the put/call ratio stubbornly clinging to its lows show.
But let's look under the hood of the stock advance as that fittingly illustrates all the above.
S&P 500 IN THE SHORT-RUN
I’ll start with the daily S&P 500 chart perspective (charts courtesy of http://stockcharts.com):
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