Mary Ann Bartels is the Chief stock market technician of Bank of America stated recently this .."Test of the October lows is underway - Santa is not coming"...Ooops
We Mary may be correct if in the next week the SP500 turns south hard, but at the moment Mary is not in the circle of trust with known market operations. The trading community or Wyckoff composite man always expected a Xmas rally, as no one was interested in buy protection (PUTS) during the last few minor sell offs. They all knew the 200 SMA was going to get tested again.
Source: Bank Of America: "Santa Is Not Coming", Sees 50% Chance Of Drop To 950 12/19/2011
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