Following 4 days of gains, the market has struggled in its drive for 5 as we head into the final hours of trading. The bulls made an opening push and officially cleared key resistance levels on a few more of the indexes but that pop has faded.
The market could regain some traction once the zombies officially raise the debt-ceiling as they will vote sometime in the next hour or two to approve the deal ahead of the approaching snowstorms. The Republicans moved up the vote to ensure that its members could get out of Dodge before flights were canceled.
There were no policy attachments to the debt-ceiling increase as the Head Zombie said there would be no deal if there was. In other words, his pen and his phone weren’t moving if there were snags so the Republicans caved-in.
The Dow is down 30 points to 15,964 while the S&P 500 is off a half-point to 1,819. The S&P did clear 1,825 after trading to 1,826. The Nasdaq is up 11 points to 4,202 and has triggered 4,200 after kissing 4,212. The Russell 2000 is higher by 4 points to 1,133.
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