Yeah I've always thought Santa Rally was a bit of a nonsense term, more to do with funds wanting to show good calander y.o.y figures meaning the rally has to start a bit before Christmas with public holidays and the like. The commodities headwinds have in no way go away and the banks have their own too, so not sure how sustainable this all is.
The late August-December trading range of 4900-5300 starting to feel a lot like early February- Late April movement around 5800-6000. Still not a decisive move either way.
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