Technical Assessment: Bullish in the Intermediate-Term

Like the kid in "The Polar Express," we want to believe in Santa -- or at least his rally. The Santa Claus Rally is more than just a good December. It refers to the market's performance over the final five trading days of the current year and first two trading days of the new year. This year, it began with Thursday, 12/24/20, encompasses the current (shortened) trading week, and will conclude on 1/5/21.