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The Santa Rally

Just posted this on another forum and thought it was worth repeating on the blog:

This period typically sees a rise – the so called “Santa Rally”. However, with the FTSE at 5935 where it currently is, it’s at the top of its trading channel for the past 10 days so we might see a pull back from here, possibly to just below 5900. Traders will be keen to bank some profits I imagine after this run up. I don’t think 6000 is out of the question in the next few weeks – would certainly make the headlines to create a bit of a feel good factor in the New Year and detract from the VAT rise.

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