Will the January Barometer Ring True?
So goes January...
The axiom from the Stock Traders Almanac is that as goes January, so goes the year. So with that, let's take a look at how some of the major indexes fared for the month:
The Transports led, +7.6% (strong economy, anyone?)
The S&P Midcap 400 rose +3.7%
The Nasdaq gained +2.2%
The S&P 500 Index rose +1.5%
The Dollar Index (DXY) gained +1.15%
The CRB Index fell -2.0%
And oil, despite this week's big rally, still lost roughly -7% for the month.
Also, by style, growth outperformed value on average. This looks like a solid start to the year, and one that I think can continue, albeit it with some bumps and hiccups along the way.