Here’s something for stock-market bulls to be thankful for. History indicates that the postelection “Trump rally” that’s sent indexes to a string of records this month doesn’t mean the market has depleted its usual store of year-end strength.
That’s a finding by technical analyst Jeff deGraaf of Renaissance Macro. In a Wednesday note, deGraaf says it isn’t surprising that the rally, which has sent the S&P 500SPX, +0.08% up by 3.5% for the month to date, would lead investors to assume that much of December’s seasonal performance had merely been pulled forward.
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