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The S&P 500 cycles top on the 10th (weekly) and 13th (monthly). In addition, the December-January end-of-month period of strength terminates on the 11th. There will be no cyclical support for higher prices in the second half of the month. Here are some additional observations:

In an election year, the DJIA has risen in January 45.5% of the time for 0% return In a year ending in zero, the DJIA has risen in January in only 38.5% of all cases for an average loss of 1.4% In the 6 election years that have occurred in years ending in zero, the DJIA has risen in only 2 years for an average return of

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