There is plethora of market myths and so-called wisdom out there. One in particular that gets wheeled out at this time every year, especially by the media, is the ‘Santa Claus Rally’. Many consider this to be simply a rally during the month of December that leads into Christmas. However, Yale Hirsch, who is widely credited with discovering the pattern has a more specific definition, which is a rally during the last five trading days of the year and the first two trading days of the next. Hirsch first published this theory in the 1972 edition of ‘The Stock Trader’s Almanac’.