With plenty of wind in their sails, bulls coasted comfortably into year-end to close out 2013 with a stellar performance, as Santa made his widely-expected appearance on Wall Street. In fact, stocks saw one of their best years ever and the strongest since 1997, with the S&P 500 boasting a total return around 30% while closing the year right at its all-time high.
Stocks continue to trade in a sideways technical consolidation just below their highs. With the start of earnings season underway, investors appear to be looking for a catalyst for some renewed buying that can launch a bullish breakout.