Is there a better combination than “greed” and holiday cheer? Many would say the word “greed” should be replaced by enthusiasm and unbridled optimism; indeed, there’s nothing wrong with that. Right?

Wall Street gets frustrated when the masses get too excited about the market—something about losing their grip on the masses and having fewer assets under management.

Momentum Train

The S&P 500 rallied 5.73% last week, and on Friday, all factors joined in the fun.

Add to this momentum the fact December is usually one of the best months of the year.

The S&P 500 has made 53 record closes this year and could be on pace for more than 70. The chart looks great.

There was a lot of bottom fishing last week, and that potentially bodes well for Technology (XLK), which has struggled, but is now looking more attractive.

Technology could begin a stealth rally.

Today’s Session

Black Friday sales are getting some headlines, but I don’t find them spectacular. That said, online is positioned better than brick-and-mortar this year, as consumers are getting squeezed despite some relief at the pump

The news at Intel (INTC) is an intriguing lesson in why we don’t need to break up companies. Taxpayers should ask why the company is getting billions of dollars while simultaneously laying off Americans.

The market may need to shake off the cobwebs and if we finish lower it wouldn’t be unusual (see table from Stock Traders Almanac).

For the most part, we are staying aggressive while looking for new ideas.