The Santa Claus rally is underway as the S&P 500 makes a new 15 month high at the 1124 level. We’re a fraction of a percent above the 50% Fibo I’ve been righting about for a month, so for the sake of my kids college fund and my pitiful retirement account, long may it prosper.
Much to the surprise of many (me included) equities and the dollar have neatly decoupled in recent weeks with both rallying, an outcome that few anticipated given the seemingly strong negative correlation during the dollar slide this fall.
