So is there normally a Christmas-New Years rally?

Because if you look at this chart, SPY is hitting a down trend line in this wedge that it's been making.

I'm wondering if all the price predictors would sell here OR if there is a Christmas/holiday rally if that would override the prediction power of trendlines and price is going to keep going up up up like Santa in his sleigh!



edit - I messed up and tried to delete this thread but it wouldn't let me. Weird.

 

Today looked bullish. I've always known Santa rallies occurred between Christmas & New Years where trading is light. Also, two Elliot Wave theorists believe the top will be in January.

 

Perma Bears watch the Scrooge story on TV and they just can't sell short..

 

SPY paid out a 77 dividend so in Jan all that dividend money that gets invested back via the drip programs etc.. will probably help support the prices.

I think SPY will trade in the 130s by feb.

 

"FROM OUR HEARTS TO YOURS. WITH LOVE, FROM WALL STREET"

Dear Mr./Ms./Mrs./Transsexual Client,

"At this special time of year, we wanted to let you know how much we appreciate you. So, please note that if you owned the S&P 500 at the beginning of this wonderful, uneventful year, you are now back in the black after our gift to you today. We are so pleased to close the market today at a point which now lets you have a non inflation adjusted profit in the index we love for you to own. It is our joy and an honor to mark the market higher in the last 15 minutes of trading just in time for your Christmas/Hannukah/Kwanzaa/Pilgrimage to Mecca/Atheist celebration."

 

edit - I messed up and tried to delete this thread but it wouldn't let me. Weird.

You would think, nothing has really changed to sustain
a rally.
One thing I've been noticing is a stock price rising on really low volume.
Seems very fishy to me, that a price would go up on low volume.
Even if logically you compare it to a item you would
buy in a store, if it's not selling then the item's price is cut,
then it goes to clearance, with price cut again. then I don't know where
it goes if it doesn't sell on clearance, maybe back to the distributor.
But it certainly doesn't go back to the shelf at a higher price.
Maybe a stock price can't be compared to something like a store item.

 

Where did u get it or u made it up?

 

You can't draw trendlines/channels/wedges on a chart that has been created by news

 

Elaborate.

 

Your drawing lines on the section of the chart which was created by news. Price will not obey those lines if there is the slightest bit of news to come.