Stocks just set a record close. Why Katie Stockton is watching out for a possible downturn
Wall Street is heading into the Christmas holiday riding high, though not everyone is convinced that these levels are sustainable.
TL;DR
- The S&P 500 closed at a record high of 6,909.79 on Tuesday, marking a 17.5% gain for 2025.
- The index is on track for its third consecutive year of double-digit gains.
- An analyst warns of a potential market pullback due to a loss of intermediate-term momentum since mid-October.
- The market has experienced increased volatility with 12 daily moves of over 1% since early October, seven of which were downward.
- A close above 6,911 is seen as a short-term positive catalyst; otherwise, a corrective mode is anticipated.
- Trading volume has been light this week due to the upcoming Christmas holiday closures.