Santa Claus shows up in Thursday's Thanksgiving Day parade,
but it's not so clear whether he's going to visit Wall Street this year, CNBC’s
Patti Domm writes.
Some analysts say stocks are hostage to "Fiscal
Cliff" negotiations in Washington, and any rally now is temporary, until
there is more clarity. Yet, others say there could be a "Santa Claus
rally" even if it gets off to a slow start.
"We've come through the worst seasonal time of the year
for the equity market, and we are about to head into the best seasonal time for
the equity market," said Jordan Kotick, global head of technical strategy
at Barclays. Kotick says, like a prize
fighter, the market was knocked down but is beginning to stand up and could
move higher in December and into January.
He said once the S&P breaks through the 1,420-1,430
area, it could be on track for a move up toward 1,500. But others are less optimistic….
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