Not seeming to care anything about economic reports, good or bad, and with the 4th quarter earnings reporting period ended, and Fed Chair Yellen’s anticipated Congressional testimony providing no surprises, the market stalled this week.
Was it just resting after three straight weeks of gains, or about to pull back and keep the months of short-term volatility and 5% pullbacks going?
Looks like the latter, unless the bullish euphoria that always accompanies Warren Buffett’s annual letter to shareholders, released yesterday, and his usual appearances the next few days on financial networks, works its magic on investors.
What happened to the history of best/worst months?
For decades it has been quite dependable that December and January would be strong months. February has a history of being a negative month within the market’s six-month favorable season.
What has happened to that history lately?
The market was sideways to down in December, down sharply in January, and up sharply in February. Here comes March, which is historically a strong month. ???