SHORT TERM: gap down opening then rebound, DOW +19
For the first three days of this holiday shortened week the Asian markets lost 0.9%, and the European markets gained 0.5%. The US market after doing two zigzags up from the SPX 2347 downtrend low, may have started the third zigzag at today’s SPX 2467 low. The previous zigzags were:  2414-2394-2468 and  2508-2473-2520. This third one could be:  2519-2495-xxxx. Had the first leg up of this potential zigzag exceeded SPX 2520 we would feel better that another one is underway.
A market maker in the making. Bernanke, Powell and Yellen get together on Friday morning for a round table discussion. Will Powell announce a QT freeze? Short term support remains at the 2479 and 2456 pivots, with resistance at the 2525 and 2575 pivots. Short term momentum ended the day around neutral. Best to your trading and Happy New Year!
MEDIUM TERM: downtrend
LONG TERM: downtrend probable