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Rally Trivia And Pivot Remorse
Here's a notable statistic: If US equities post gains during the final two months of the calendar and then keep rising during the first two months of a new year, the S&P's guaranteed to be higher still by year-end.
That bit of market trivia comes from Ned Davis Research. "Guaranteed" obviously assumes past is precedent. And assumptions have a very bad reputation. Caveat emptor.
The point is just that the history of rallies encompassing November, December, January and February doesn't precl
I wish the Fed would follow your advice and talk less. It’s a weird kind of capitalism when the market’s trained to crowd around the fire hydrant with mouths open waiting for Fed mana…