The SPDR S&P 500 (ARCA:SPY) continues to rally, approaching its next resistance point at $198.50 -- the final resistance level prior to the all-time high of $199.06.
While it is a resistance point, don't look for a major pull back on the daily chart. That would be an intra-day trade or a one-day swing trade. Light volume and holiday price action should continue to keep the markets marching toward the 2,000 level on the S&P 500 (SPY 200).