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Thursday, December 7, 2017

Santa Claus Rally or Year End Meltdown?

The traditional year end buying could mean that the "Santa Claus Rally" is still on the cards.

However, the selling pressure of late for technology stocks may continue, as after taking a closer look at the Republican tax bill, tech companies could be hit harder by the corporate Alternate Minimum Tax (AMT). This measure was removed from the House tax rule, but included in the Senate bill, and it must be resolved before the overall plan is passed.

A lot of stocks could be dumped in late December in order to be taxed under the old rules if the House bill keeps these penalties in place.
All posts and charts are for educational and illustration purposes only

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