If Bulls really want to hold a Xmas Rally, it has to pull back and re-test its Friday low and then build up strength and make a huge push up( short Squeeze). Otherwise, with so many Shorts waiting to ambush on the road, Bulls will have a bloody journey.
So, it is also a killing for Bears if you hold something over night before SPX makes through 930( it is all about 3 big automakers). Bulls could make a final huge move by this.