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Will December 15th be the day the Santa Rally starts? Alan Green and Simon Wajcenberg of K1T Capital discuss
Simon Wajcenberg, CEO of K1T Capital, joined Alan Green, CEO of Brand Communications, on the Tip TV Finance Show to discuss the S&P 500 and the chances of a Santa rally in the index.
15th December the day to go long?
Wajcenberg noted the average historical December performance of the S&P 500, and he outlined that day 12 of the month is the catalyst for upside and a Santa rally in the index. This corresponds to the 15th of December this year, and despite it being the day before a possible Fed hike, it may be the opportunity to open a long position for a potential Santa rally. He added that on a historical average basis over the last 50 years, it has been profitable 78% of the time, with the average percentage return of 1.5%.