US Market Sector Outlook February 2014
As outlined in our recent ‘CFAL Global Market Review—January 2014’ report, the dramatic sell-off in the equities markets (over the month of January) points to a difficult year for stocks, at least according to the so-called ‘January barometer’. This indicator dates back to at least 1972 when newspaper publisher Yale Hirsch first mentioned it in his ‘Stock Trader’s Almanac’. In the years since 1973 in which the S&P 500 rose during January, the index has continued to gain an average of 11.2% over the next 11 months. This compares to an average February-through-December gain of just 0.2% in those years in which markets fell at the beginning of the year. 02_2014_CFAL_Sector_Outlook Click here for US Market Sector Outlook

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