Stocks found some much-needed support this week on the back of a rising oil price to $50 a barrel and as concerns about the negative impact of a potential June Federal Reserve rate increase diminished.
I’m not concerned about a seasonal tendency like a Santa rally. I’m concerned for the aftermath. In normal years there is a holiday euphoria that went missing for the most part this year. While the week directly after Christmas is usually bullish it can be diminished as the euphoria has passed but as I said there wasn’t much euphoria to speak of this year.