The Santa Claus rally, coined by The Stock Trader’s Almanac, is the performance of the S&P500 in the “last 5 trading days of the year AND the first two of the New Year.” That means this year it is the performance from the close on 12/23. This morning’s USDJPY-driven (home-prices helped) weakness has sent the Dow and S&P 500 into the red – extinguishing (for now) the gift that Santa left

The only thing holding stocks up for now is 119.00 USDJPY

Charts: Bloomberg

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