Why Airlines Have The Best Technical Outlook In The Market

In a new report, Oppenheimer analyst Ari Wald discussed the stock market’s technical setup heading into the end of 2015. Wald also named airlines as the best-positioned group from a technical perspective.

Santa Claus Rally

The Santa Claus Rally refers to the tendency for stocks to rally during the last five trading days of a year through the first two trading days of the New Year. Historically, the S&P 500 has averaged a 1.8 percent gain during this period since 1928 and has produced a positive return 78 percent of the time.

This year’s Santa Claus Rally period begins on December 24, but Wald notes that the market’s performance during this period can have an impact lasting much longer than seven days. In fact, the S&P 500 tends to underperform for up to six months following the Santa Claus rally period if it fails to generate positive returns by the end of the second trading day of the New Year.

Q1 Correction

Oppenheimer is calling…

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