For Santa Rally ends on Jan 3rd 2024, will people sell stocks that day? I mean, should I be prepared that the market will consolidate around that time? Should I cut the portfolio thin to protect the Santa Rally profit?
I am kind of new to the market, question might be naive 🙂
Thank you very much, Marty, got improved a lot this year since signed MC Stock Charts, and gained profit too.
Thank you for your question!
I am glad to hear this site has helped your trading. The last two weeks of December and first two weeks of January are typically quite volatile. I believe it is wise to lock in some profits as the indexes are extended. The Nasdaq is now 8.0% above its 50sma and will correct via time and/or price. I am not sure what stocks you own right now. But, 80% of stocks will correct with the index.
Have a great day!