Santa Clause Rally or Groundhog Week

The big question this week, will the Santa Clause Rally happen? If we get a rally it is like a predictor of the years outcome. In 2008 the Santa Clause Rally did not happen. The markets went down 7+ % during the week after Christmas. After this the markets tanked. I am on the sidelines watching this week. I had a few set ups but the risk was too high for my taste.