Just a few
days left before the New Year, but the Santa rally is wrapping markets. The
S&P 500 broad market index delivered 2.0% from last Thursday when the rally
was flagged, breaking all-time highs twice.
The rise of
futures’ prices for S&P 500 paused at around 4800 points which was close to
the average historical Santa rally performance for the last 92 years at 2.6%.
But investors may bet on more with such a rapid climb of the index. Technically,
with a recent breakthrough it may target 4900-5000 points by the middle of next
week.