S&P 500 hit record after holidays
S&P 500 hit record after holidays, likely fuelled by initial reports that the Omicron variant causes milder infections created a general optimism (both for markets and consumers).
According to Mastercard data, holiday sales rose 8.5% in 2021 from last year which is the fastest pace in 17 years. Nine out of 11 S&P 500 sectors gained in Monday’s session. The benchmark index historically gains during the final five trading days of the current year and the first two of the new year.
Investors are looking for a Santa Claus rally to close out the year. The term was established in the 1970s and refers to the final five trading days of the current year and the initial two days of the next year.
According to analysts, the beginning of this year’s rally emerged on the 27th, making it the most delayed Santa Rally in 11 years. Does this mean that it will be volatile or aggressive?
Another market phenomenon we’ve seen in recent years is impressive cryptocurrency movements around the end of the current year and the beginning of the next. In fact, MoM we’ve seen cryptos like Polygon/Matic grow 70.34% while Bitcoin dropped 14.05%.
Bullish
1st Support 4645
2nd Support 4532
1st Resistance 4792
2nd Resistance 4975
According to Mastercard data, holiday sales rose 8.5% in 2021 from last year which is the fastest pace in 17 years. Nine out of 11 S&P 500 sectors gained in Monday’s session. The benchmark index historically gains during the final five trading days of the current year and the first two of the new year.
Investors are looking for a Santa Claus rally to close out the year. The term was established in the 1970s and refers to the final five trading days of the current year and the initial two days of the next year.
According to analysts, the beginning of this year’s rally emerged on the 27th, making it the most delayed Santa Rally in 11 years. Does this mean that it will be volatile or aggressive?
Another market phenomenon we’ve seen in recent years is impressive cryptocurrency movements around the end of the current year and the beginning of the next. In fact, MoM we’ve seen cryptos like Polygon/Matic grow 70.34% while Bitcoin dropped 14.05%.
Bullish
1st Support 4645
2nd Support 4532
1st Resistance 4792
2nd Resistance 4975
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