Prior week: "Last week: SPX set jump above 2HR1 / Q4R1 and fast move to Q4R2; Tech set held Q4P and jumped above all pivots on 12/7; INDU approaching YR2 (!); RUT testing YR2 (!); and NYA/VTI confirming strength."

Last week: Markets paused and pulled back on several long term levels: SPX set YR2, INDU 2HR2, NDX YR1 and RUT YR2.

Sum
Despite possibility of Santa surprise, I think more likely that markets remain under the levels that capped the action last week. This means SPX YR2 2282, INDU 2HR2 & YR2 combo at 19900 - 20020, NDX YR1 4960, and RUT YR2 1387.

Charts
Cash index weekly charts with long term levels only
Daily ETF chart with long term & medium term pivots
Futures current contract pivots only (no S/R) and MAs for clarity of entries (now March 17 H)
Futures "1" continuous contract with the works

SPX / SPY / ESH / ES1
Upside limited near term. SPX YR2 has stopped the move.
SPY shows 12/15 close under Q4R2, inviting sellers.
ESH all above pivots and nicely rising MAs. RSI starting to show divergence. Digestion would be normal.
ES1 shows textbook Bollinger band and RSI divergence on the 12/15 high test; ie, this was the first advancing day since 12/7 to be inside the band.

NDX / COMPQ / QQQ / NQH / NQ1
NDX YR1 & COMPQ 2HR1 have stopped the move. QQQ also on 2HR1. Futures above all pivots and rising MAs, but glaring RSI weakness compared to the other indexes. Lastly, below 4915 on the continuous contract will help seal the drop.

INDU / COMP / DIA / YMH / YM1
INDU 2HR2 and (YR2 just above) and COMPQ YR2 have stopped the move. DIA also on 2HR2. Futures massively overbought and above rising MAS; digestion likely.

RUT / IWM / RJH / RJ1
YR2 has stopped the move. A hold of recent 11/25 high along with 2HR1 / Q4R2 acting as support would be constructive range bound action.

NYA / VTI
NYA testing 2015 high. 12/13 high on Q4R2, but holding above the YR1 / 2HR1 combo would be more bullish.
VTI clear buy 11/9, but also strugglign at Q4R2 resistance.