Is Santa Going to "Sell the Rallies?"

The bears wiped out the bulls last week.

Technical Edge — 

• NYSE Breadth: 24% Upside Volume

• Advance/Decline: 30% Advance 

• VIX: ~$22.60

It’s the last full week of trading and we’ve had a pretty good run these past few weeks. Let’s not do anything stupid to screw it up going into the holidays and into year-end. 

DAX

Weekly look at the DAX, which has suffered three straight weekly declines. It’s now into a few key moving averages and the ~13,800 area. 

Not sure it can rebound to 14,200 but that would be a great area for the bulls to regain. For now, 14K is the battleground (I’m not trading it, but I’m watching it). 

S&P 500 — ES

After a huge bearish reversal on Tuesday and three straight down days, we may be in store for a bounce. However, I personally don’t think it’s anything more than an eventual “sell the rally” at this point in time. 

I’m willing to change my mind, but that’s where I stand right now. 

On the downside,