The month of December is an overwhelmingly positive month for US equities. Take a look at the table below:
So it is surprising to see the SPX down 1.31% through the first 8 days of this month. Below is a comparison to previous December performances through the first 8 trading days (December 2013 is highlighted).
The month is far from over and SPX levels are nowhere near correction territory. As the month progresses, we’ll continue to look for other indicators that are breaking historical trend; mindful of the FOMC decision coming on December 18.
