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"Santa Claus Rally" in jeopardy: Can U.S. stocks finish the year strong?
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Profit taking

Last Friday, we saw a broad-based sell off as major indexes ended the day in deep red zone.

The sell off was led by the tech sector with the Nasdaq dropping nearly 1.5%.

It seems like there are some profit taking activities going on as we head into 2024.

However, despite Friday’s decline, the market is still on track to another standout year. The S&P 500 is on its way for a gain of around 25% in 2024.
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