The Santa Claus Rally, as many MarketWatch readers know, is the tendency for stocks across the world to outperform during the last two weeks of the year. It’s a very strong seasonal pattern that always proves true, except when it doesn’t. So what about this year? On the technical side, some analysts see a continued advance through to Wednesday, but a possible correction sometime next month, as this recent report mentions. On the other hand, December’s gains may now already be in the past,as Mark Hulbert suggests. But then how about the fundamentals? In a note out earlier this week, Charles Schwab senior vice president and chief global strategist Jeffrey Kleintop says the rally looks likely to roll onward into 2015, but he offers some caveats as well. First of all, he notes that not all Santa rallies are created equal. The U.K.’s FTSE 100 UKX, -0.17% tends to get the biggest and most consistent holiday bump among the developed economies, though if you look only at the final week, then Japan’s Nikkei Average NIK, -0.50% takes the prize. But regardless, Kleintop wrote in his report just ahead of the Christmas break, three market risks in particular are very much worth watching if you plan to time the market while many of the trading desks are on vacation. In fact, they may be worth watching throughout next month too...Santa rally: Ho ho hold on a second... via marketwatch