As the end of 2015 grinds down ( And we think given the recent market behavior it's been a grind for many investors.), the Santa Claus rally that usually happens comes into question again. Will it happen or no?
The end of December is usually kind to stocks, so watch for “an oversold bounce in the coming weeks,” says Ari Wald, technical analyst at Oppenheimer & Co., in a note. That seasonal trend is shown in the chart above from Wald.
“However, strategically, we believe Q4 strength has marked an opportunity to sell weaker trends ahead of what we expect to be a Q1 ’16 correction,” he adds. “We see downside risk to 1900 over the coming months.”
marketwatch.com/story/what-technical-analysts-are-watching-after-last-weeks-big-market-selloff-2015-12-14
marketwatch.com/story/what-technical-analysts-are-watching-after-last-weeks-big-market-selloff-2015-12-14
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