As we are approaching the end of January, it looks as though, barring a 650 point jump in the Dow before the end of Friday, US markets will be down for the month.
Time to start thinking of the old adage: As January goes, so goes the year.
Since 1973, when January was a negative month, the average return for that year was -2.8%. Also, a negative January resulted in a negative year 66.7% of the time.
However, when January was positive, the average return for the year has been 16.3%.
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