Ahead of this week’s FOMC meeting, the major equity indices last week all rallied toward their October highs, even as short-term indicators got further pushed into overbought territory.

Reduced global markets volatility marked the first week of December. Netflix news on Friday and Trump's cautionary words about it should lead to reverberations throughout entertainment-centric businesses and stocks.

Rising margin debt paired with slowing disposable income and higher borrowing costs is inflating market risk and makes any downturn more likely to be sharp and forced.