Push For A Year-End Rally Is Overpowering Bears

By Michael Msika, Bloomberg Markets Live reporter and strategist

Whatever risks confront this market, the downside looks protected by fiscal, monetary and retail supports, with seasonal flows and buybacks adding to the positive mix. 

The week started well after the early-November wobble, with signs of an end to the US government shutdown reviving more aggressive dip buying. The resumption of economic data releases could make the case for increased wagers on Fed rate cuts. The bottom line is that traders are determined to have their year-end rally and it will take far more serious setbacks than those we’ve seen to turn them bearish.