First Santa Claus showed up for his rally.
Now the “First 5 Days” of the year were up (+1.37%).
That’s 2 for 2 so far in the January Trifecta.
So now what’s next?
The January Barometer is the last leg of the early year triple crown.
“As January goes, so goes the rest of the year”. According to my handy Stock Trader’s Almanac, the S&P500 has an 83.3% hit rate for the full year when January is in the green.
So with more and more positive signs for stocks, it really shouldn’t be a surprise to anyone.
The trend for most stocks has been up and to the right. That was a strong back half of 2022 and a very strong 4th quarter.
And not just in the U.S., but we’re seeing breadth expansion internationally.
The weaker Dollar has certainly helped.
And while our Neutral approach for the S&P500 remains intact, underneath the surface things look so much better.