AP
"In each of the past two years the stock market began a slide in the spring, a phenomenon often referred to by the old adage 'sell in May and go away,' which lasted well into the summer months," wrote LPL Financial's Jeff Kleintop in his latest weekly market commentary.
The pattern is almost eerily similar.
"In both 2010 and 2011 an early run-up in the stock market, similar to this year, pushed stocks up about 10% for the year by mid-April. On April 23, 2010 and April 29, 2011, the S&P 500 made peaks that were followed by 16 – 19% losses that were not recouped for more than five months."
We still have a few weeks before the end of April. But until then, Kleintop is carefully watching 10 indicators that turned ahead of the sell-off.
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