U.S. equity index futures modestly higher Euro STOXX 600 index up ~0.6% Dollar ~flat; gold, crude rise; bitcoin down U.S. 10-Year Treasury yield dips to ~1.46% Dec 28 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com S&P 500: ECHOES FROM 1929 AND 2000? (0900 EST/1400 GMT) The S&P 500 (.SPX) is on track to rise nearly 28% in 2021. With this, its rolling three-year gain now stands at 91%. That"s it"s best such rise since a 98% advance in 1999, which was, of course, just prior to the bursting of the tech-bubble in March 2000. As 2021 draws to a close, the SPX is nearing a 92-year log-scale resistance line, which has the potential to be a formidable barrier given that it is based off of the index"s 1929 and 2000 peaks read more : SPX12282021A SPX12282021A On a monthly, basis, this line is now around 5,150, or roughly 7% above current levels. Since it is ascending around 25 points per month, it will reside around 5,225 in March 2022, or roughly 9% above current levels. read more Additionally, monthly momentum is lagging. Since peaking at an all-time high in January 2018, the RSI is failing to confirm the SPX"s fresh record highs: SPX12282021B SPX12282021B In fact, the current 47-month divergence is just slightly longer than the 45-month period from what was then the all-time high monthly RSI reading in June 1996 to the S&P 500"s March 2000 top. Thus, given the extent of the S&P 500"s three-year advance, the resistance line, and the momentum divergence, early 2022 may be shaping up to be a critical test for the benchmark index. (Terence Gabriel) ***** LIVE MARKETS EUROPE TO RETURN ON DECEMBER 29: read more Terence Gabriel is a Reuters market analyst. The views expressed are his own