Santa looks to be a reindeer or two short to deliver Dow 20,000 by Christmas. Mostly because we made the approach to the milestone after using up plenty of energy over the prior six weeks, the Dow is easing back and the S&P 500 has demurred again near its all-time high above 2270. Breadth is weak, with two-thirds of volume to the downside and the "average" S&P 500 stock down about half a percent. Still no profound rush for the exits, just not much impetus to do much forceful buying after the market and hurried fund inflows got investors' equity exposures up pretty high.
Here's what I'm watching heading into the closing bell: