Since 2009 the Dow and S&P 500 have struggled in the second half of June. This time around, a major Federal Reserve decision on interest rates looms.
The S&P 500 Index just crossed over its 50-day moving average. That has happened 10 times since 2009 and has been a bullish indicator for stocks, according to CNBC data analysis.
Since 1989, the S&P 500 has traded positively in the month of June only 55 percent of the time. The broad measure of U.S. stock market performance has lost an average of 0.49 percent. The Dow has fared even worse and the Nasdaq not much better.
Over the past decade, the S&P has logged three consecutive weeks of losses on 18 other occasions. A month after these declines, stocks tend to bounce back.
The University of Michigan's preliminary print on its consumer sentiment index rose to 102.4, the highest level in 15 years. But that's not good news for the historically defensive Consumer Staples Index.
Trade tensions between the U.S. and China have been a lose-lose scenario for markets, with both U.S. and Chinese stocks down significantly. That isn't a great sign for the next month, especially for Chinese equities.
Since late December the semiconductor ETF that tracks the sector's biggest names, the SMH, has been on a tear.
Tesla's stock got hammered on Wednesday, but history shows the stock will likely bounce back in the next month.
Despite the market turmoil in December, many of Wall Street's top analysts remain bullish for 2019. A CNBC survey found that the average strategist sees the S&P 500 ending next year above 3,000.
In the week following Fed rate hikes in December since 1994, the top-performing sectors have been Energy and Materials.