Equity market on vacation

Light volumes and limited news have led to equity markets treading water over the last few days. Barring some geo-political scare, the year in equities is over and all eyes are now focused on 2010, which may well come out of the gates fast and unpredictably next week. Calls by analysts and strategists for a continued rise in equities in 2010 generally limit themselves to 10% gains or modestly higher while those on the bear side suggest declines back to March 2009 levels. That's a wide divide, suggesting another reason for year-end ambivalance. "Let's just get through this one" is the theme of the day.