S&P 500 up 9 points to 2271

Four days of consolidation appear to have broken to the upside as the Trump rally morphs into a Santa Claus rally.

The assassination of Russia's ambassador to Turkey and a terror attack in Germany couldn't derail the rally. Nor has the climb in the US dollar or rise in Treasury yields.

At some point the market will have gone too far and correct but this is one of those rallies that universally hated, and those are the ones that stretch the longest.

At the moment, if this consolidation/wedge gives out, the technical target would be roughly 2310, or another 1.7%.