Kriss Kringle showed up on Wall Street after all, delivering a modest “Santa Claus rally” that investors hope will keep bears at bay.
The phenomenon, popularized by the Stock Trader’s Almanac in the early 1970s, refers to a tendency for the S&P 500
SPX,
to rally in the last five trading days of the calendar year and the first two trading days of the new year. A failure to rally in that stretch is seen by some analysts as a signal for more rough sledding ahead.
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