Time short for S & P by end of 2011 more

The U.S. flag is 9 November 2011 outside the New York Stock Exchange.
By Chuck Mikolajczak
NEW YORK | Saturday, 17 December 2011 12: 00 pm EST
NEW YORK (Reuters) - remains in the trading year two weeks the euro-zone debt crisis the primary obstacle to pressing the S & P 500 index in positive territory for 2011.
Investors on edge and market have been uncertainty on progress in the region, together with the potential for credit rating downgrades on euro zone countries, volatility high.
Orders includes even with a fairly busy U.S. economic calendar, a batch of data on the housing market, the last reading of the gross domestic product and long-lasting goods, focuses on developments in European markets.
"As regards everyone to look at is the same thing, which you both - for, every time that we get crushed, opens his mouth a German official,", said Paul Mendelsohn, chief investment strategist at Windham of financial services in Charlotte (Vermont).
"I am my thumb that Santa Claus is out there." "But we have to see something."
The benchmark S & P 500 Index.SPX.INX is about 3 percent for the year and had to of 1,257.64 climbing to end higher for the year.
A rally of shares on Friday in the tar sands, and the market ended with modest gains after the latest credit warning about possible downgrades of European Nations. For the week the Dow fell S & P by 2.7 percent, lost 2.9 percent and the NASDAQ fell by 3.5 per cent.
Italy's Prime Minister calls for European policy on Friday to beware of before the Division of the continent with a view of the debt crisis include warning against a "short-term hunger for strict" in some countries in a dig at Germany.
Shares have been whipsawed, as investors weigh crisis and despite slight improvement the threat from the euro zone in U.S. economic data and shares, which many regard as cheap.
"There appear to be some improvement in economic indicators in Germany, but it's hard to see how they win the day, if Europe remains a major concern." "It's not like the reviews such bargain prices are that it is a one-way bet", said Stephen Massocca, managing director at Wedbush Morgan in San Francisco.
As volumes begin to dry up and market moves more be overdone is in the holiday season, can help the volatility to lift up the stock market in the plus column.
POSSIBILITY OF THE RALLYE
"Watching an upside rally?" Sure, because you some money managers will have in end to try and only those who it push to the market at the very least ends flat on the year, if not higher, ", said Ken Polcari, managing director at ICAP equities in New York."
"If it be a rally at all it on light volume is less than and less participants will." "If there is less volume, you have the option, these exaggerated traits, but people use."
Volatility in individual shares could be influenced by corporate profits of Preannouncements. There were 97 negative result of Preannouncements from S & P 500-companies for the fourth quarter compared to 26 positive Preannouncements, making a negative positive ratio of 3.7. This is the highest in 10 years, according to Thomson Reuters data.
Companies which have prospects in recent weeks include DuPont (dd)(N), Intel Corp. (INTC.)(O), United Technologies Corp. (UTX.)(N) and Texas Instruments Inc. (TXN.)(N).
Unexpected administration of Shakeups also are increasing on the horizon and the turmoil in equities. Both Cablevision Systems Corp (CVC.N) and the New York Times Co. (NYT.)(N) saw senior suddenly to leave their posts.
But stock movements next week are be dictated finally tightened market fluctuations by measures in Europe, with the light volume.
"The only thing of interest be assured the continuing headlines over Europe regardless of, whether it unspecified, what looks like a possible agreement come", said Polcari.
"A little bit of push-to-area of 1,250 out at 1,270, but much about it, I don't see that why it would go higher, if you get some explosive announcement of Europe."
(Reporting by Chuck Mikolajczak;) (Editing by Kenneth Barry)