This morning, the S&P 500 Index e-mini futures (ES-Z3) are trading lower by 4.25 points to 1787.25 per contract. It seems that Santa Claus is still in the North Pole as futures and markets around the world continue to retreat. Last night, the Nikkei 225 Index (Japan) declined by 2.17 percent. Today, most of the leading European markets are falling. Usually, the markets are in rally mode during December, but that is not the case yet.