Quote:
Originally Posted by dewilson58
Santa Rally is prior to Christmas.........anticipating the red suit.
I would say yesterday was a response to an over-sell.
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Santa Claus rally - Wikipedia
A Santa Claus rally is a rise in stock prices in the month of December,
generally seen over the final week of trading prior to the new year.[1][2] It is a type of calendar effect.[citation needed]
There is no generally accepted explanation for the phenomenon.[1] The rally is sometimes attributed to increased investor purchases in anticipation of the January effect,[1] an injection of additional funds into the market, and to additional trades which must, for accounting and tax reasons, be completed by the end of the year.[1][2] Other reasons for the rally may be fund managers "window dressing" their holdings with stocks that have performed well,[citation needed] and the domination of the market by less prudent retail traders as bigger institutional investors leave for December vacations.[1]