There wasn't a whole lot of change to indices following today's close. The Supreme Court has still to rule on tariffs and then there is the Powell noise to consider. It may have been easier for prices to drift lower, but instead, markets finished mostly flat. The one exception is Bitcoin. It's back knocking at the December high as it works towards a right-hand-base, with the last two days registering as accumulation days. For those seeking a long trade for the first half of 2026, Bitcoin could be the asset of choice.

Heading in the other direction is the Dow Industrial. It was the only index to register a loss, edging it on higher volume distribtion. Technicals are firmly bullish, meaning the next test of $50K and the fast rising 20-day MA might be the long trade play for the index.

The equal-weighted Nasdaq 100 also fell deeper into its 3-month trading range. While the percentage loss was one highest on the day, the trading range governs action and this loss is unlikely to define things with support nearby.

The Russell 2000 (IWM) has a nice breakout to defend, no major damage done today.

The S&P still has its breakout to defend.

Markets appear reluctant to give up on their post-Christmas gains, so bulls retain their edge. Tomorrow would be a good time to see big white candlesticks and new all-time highs, but I would take a gain in the Nasdaq first. Bitcoin is well placed to deliver a nice trade for 2026 and might be the place to be for now.

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