The Nasdaq Composite was able to extend its winning streak to 6 consecutive up days. The index closed at 4,059, up +1.71% for the week. The S&P traded mostly sideways last week but was able to remain above the 1,800 level by 5 point; it finished the week up +.06%. The Dow closed the week up +0.13%.

After 6 consecutive up days on the Nasdaq, the market is in overbought territory, short-term. The market breadth and NYSE ticks are in a neutral zone, where strong volume could easily push the market higher or lower. With the risk of retracement still high, any sign of heavy down volume would be a reason for concern.

December is historically a strong month for the market. However, this is a time watch stocks closely for any sign of faltering. The opportunities for good buy points are dwindling. Some the recent breakouts have been weak. If the market begins to weaken, tighten stops to protect profits and limit losses.