$US500 - S&P500 futures almost back at ATH, Santa is coming??

After the sharp "omicron-dip", the S&P500 is almost back at all time highs!

The daily EMA100 got bought heavily and markets melted through every resistance since then.

The daily RSI keeps showing baerish divergence though, and also volume kept tapering off, also in the ETF on the S&P.

I would not open fresh longs here, instead taking some profits here seems reasonable.

At the moment, a correction down to 4.650 would not be weird at all, also to backtest the support from november 11th as support again.

Also there was a big gap opened up yesterday in the markets and most of the stocks, most of the up gaps get closed within the first 7 days after they got opened, whatever that statistic is worth at the moment, but it is just a fact to know i guess. Once 7 days are over chances drop sharply to get that gap closed soon, those gaps mostly get closed later on in a bigger correction/crash then.

Overall, i would aproach markets with caution at the moment, we are at heavy resistance at the moment and a small set back is kind of likely here. A break to new ATH, even more when a nice backtest happens, would be a bis buy signal though.

Stay safe in this markets guys!