Shortly after the open this morning, the Russell 2000 Index (RUT) shot up about sixty points and then dropped back down about 15 minutes later. I have not been able to find an adequate explanation anywhere. NDX was rebalanced this weekend, but RUT wasn't. A spokesman for Russell Investments said it was the result of a "temporary technical issue in the data feed" - whatever that means. Issues like this do a lot to undermine confidence in the markets. Trading volatility in the first 30-60 minutes of the trading session isn't unusual, but this was ridiculous.

The Santa Claus rally continued today with SPX closing up $10 at $1828. RUT closed at $1157, up $11, but hit a high of $1213 during that incident this morning. Volatility continues to contract with the VIX decreasing about three quarters of a point to 13%. Trading volume fell off markedly from Friday with 1.8 billion shares of the S&P 500 stocks trading. Trading volume dropped 52% on the NYSE and decreased 42% on NASDAQ. I guess many traders have already left for the holidays.

As each day brings new all-time highs for the major market indexes, the bears are becoming extinct, and thus the probability of a correction increases. For now, one has no choice but to play the bullish rally, but my "spidey sense" is tingling.

The stock and options exchanges will close at 1:00 pm ET tomorrow and will be closed Wednesday for Christmas.

I wish each of you a special and meaningful Christmas with your families.