Due to low volume, therefore it is not in overbought condition, and also no significant negative news reported thus, I do not foresee a pullback yet. In fact I see a strong upside movements if YHOO reported very positive guidance. In addition, if YHOO announce a massive shares buyback and/or special cash dividend, YHOO, with no doubt, should immediately trade above $20.
I agree if negotiation fails at Congress and we have a fiscal cliff, a pullback is very possible but I see YHOO will not be affected greatly due to his business model. Recently we have a moderate corrections yet YHOO along with goog continue to rise or stable. I see Fiscal Cliff like Y2K, expired, but they have a year for Congress to negotiate and get a new tax plan.