A 'Technical' Christmas Gift for Wall Street

Core Viewpoint - The recent rally of the S&P 500, while not substantial, is considered potentially significant for the year as it may indicate a market breakout [1]. Group 1: Market Analysis - The S&P 500 is currently trading at 6937, surpassing the 6911 threshold that would confirm a breakout [2]. - Prior to this rally, the S&P 500 had not confirmed a breakout, leading market technicians to believe that a correction was still possible [1]. - If the current gains are maintained, trend followers and momentum traders may increase their investments, potentially boosting the market through the end of the year [2].