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Here's the silver lining to a flat year

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Paul Giamou | Getty Images

Editor's Note: Jeffrey A. Hirsch is editor-in-chief of the "Stock Trader's Almanac," which popularized the "sell in May" market strategy.

The year 2015 is about to be no more. The market's performance or lack thereof will be quickly forgotten.

Instead, 2015 will likely be remembered for its rather frightening August correction when S&P 500 shed 11 percent in six trading sessions (Aug. 18-25), ending the S&P 500's streak without such a correction at 1,421 calendar days, the third longest since 1949.

Seven years to the day, the Fed finally ended its zero interest rate policy (ZIRP) in 2015 with the first rate increase since 2006. Absent a sudden leap higher, 2015 will also go down in record as the 14th S&P 500 flat year (-5 percent to +5 percent) going back to 1930.

Here's what could be next for the market, should history repeat itself.

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