There was an article in the WSJ yesterday on the January Barometer, noting that when the S&P 500 is down for the month of January it has, on average, fallen another 2.4% for the remaining 11 months of the year.
But market uber-nerd Laszlo Birinyi notes that the article fails to mention that while 11 out of the 22 down
Januaries had an average yearly return of minus 14.05 percent, the other 11 occurances resulted in a positive average of 9.22 percent.
Heads or tails?
In other words, don't put too much in the January Barometer.
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