Santa Claus Rally Dead? [video_player type=”youtube” youtube_remove_logo=”Y” width=”560″ height=”315″ align=”center” margin_top=”0″ margin_bottom=”20″]aHR0cHM6Ly95b3V0dS5iZS9MVzZyTkdNdTlfQQ==[/video_player] Four days before Christmas and the S&P has gone no where this year. In fact the S&P is down 2.5% on the year. Everyone is still talking about the Santa Claus rally. I caution you there is still a lot of volatility in this market. With a short week volatility and the expected move in the S&P is way too high. I don’t expect this to be your typical “slowly grind higher” into the New Year. Let’s use energy as an example. Oil prices have been crushed and we are about $1 away from the Great Recession lows of 2009. Yet the XLE, the energy sector ETF, is nearly 50% higher than when oil was at there 2009 lows. What’s more concerning is financials took the biggest hit on Friday. Higher interest rates are suppose to be positive