In January, thus far this year the Dow Jones Industrials is down 3.5%. The S&P 500 Index a little bit better, only down 3 percent. They have something called the January indicator, or the January Effect, they say, "As goes January, so goes the rest of the year."
I do not how how much validity is there, I do not know how accurate that barometer is. I think it was more accurate in the past, than in the last 10 or 20 years, but , regardless of the January effect, there are plenty of reasons to believe that this would be a down year in the U.S. stock market.
Related trading instruments: SPDR S&P 500 Index ETF (SPY), Select Sector Financial Select Sector SPDR ETF (XLF), Nasdaq 100 Index ETF (QQQ), SPDR Dow Jones Industrial Average ETF (DIA)
Peter Schiff is an American businessman, investment broker and financial commentator. Schiff is the CEO and chief global strategist of Euro Pacific Capital Inc.
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