S&P 500 Dec 01 to Dec 05 Outlook

Recap
Consolidation around the top part of prior week is no surprise. Test of Y+1 early in the week did not result in sell off as there is no participant during the holiday week. 2nd test of week high led to stronger reaction. Closed the week above Y-0 and below midpoint.

Outlook
If volatility picks up as expected, this will be a down December with surprise selling to backfill the void zone below 2050.