The indexes and many stocks are very extended and ripe for selling or consolidation, but there are no indications that there will be a pullback before the calendar rolls over. There are obviously tax reasons to delay selling, and for performance purposes, money managers want stocks to end with maximum gains. There really isn't any reason to believe that the market is going to suddenly collapse when the Santa Claus Rally period ends next week, but the likelihood of profit-taking is very high.
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