From recent posts and Almanac Alerts, it is know that August has been the worst performing month of the year since 1987 with DJIA and S&P 500 recording average declines of 1.0% and 0.8% respectively. Deeping deeper into data reveals that the first nine trading days of August (since 1992) have an even weaker record than the entire month. In the last 21 years, the S&P 500 has been down 13 times with an average loss of 1%. However, with the S&P 500 up 1.3% through today’s close, history is on the market’s side. There have been 11 positive starts in 21 years. Of these 11, all but three proceeded full-month gains.
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