01 December 2011

SP 500 and NDX Futures Daily Charts - Wall Street Talking Up a 'Santa Claus Rally'

The SP 500 has managed to work its way back into the symmetrical triangle from which it had broken down, with a lot of help from Bernanke and the western Central Banks.

Let's see if they can hold it here, and even break out. Headline risk remains elevated, and nothing has really changed except for a short term blast of dollar liquidity.

As a reminder, tomorrow is the Non-Farm Payrolls Report.

Will there be a 'Santa Claus Rally' on the US stock market this year,
or will things just keep getting worse?