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%.