With one of trading remaining in the week, the S&P 500 is up 14 points to 2075.The intraday all-time high is 2079 and a close above the December 5 high of 2075 would be a new all-time high.
The sub-plot in stock market trading in 2014 was the violence of both downdrafts, and rallies.
That might be setting up the market for a tough squeeze in 2015. Traders will be piling into longs on dips as they approach 5%, but if the downside continues, there is an increasing chance of a nasty squeeze.
