While many traders were on holiday break, the market didn’t slow down.
In fact, SPY pushed to yet another all-time high, extending a rally that has surprised both bulls and bears alike. New highs often generate optimism — but they also raise an important question:
Is this move sustainable, or are early warning signs starting to appear beneath the surface?
History shows that markets don’t move in straight lines. Even during strong uptrends, momentum can quietly weaken, breadth can narrow, and volatility can begin to shift before price reflects it. These subtle changes are easy to miss when headlines focus solely on record highs.
That’s why, in this week’s FFR Trading Market Minute, we’re taking a closer look at what’s happening behind the breakout.
We examine:
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even though we another SPY all-time high, there are signs that momentum may be slowing
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areas where caution could be warranted
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key levels traders should continue to monitor
This isn’t about predicting a top — it’s about staying disciplined, selective, and prepared as the new trading year begins.
👉 Watch this week’s Market Minute to see what we’re watching and how we’re approaching the market from here.