Trick or treat?
I know, I know, Halloween is still three weeks away. But the stock market’s impressive strength since the beginning of October is leading at least some to wonder if the venerable Halloween Indicator has kicked in early this year.
You may know this indicator by its other name, “Sell in May and Go Away.”
According to a comprehensive review of its track record that appeared in the December 2002 issue of the prestigious academic journal, American Economic Review, this pattern has existed historically in 36 of 37 countries studied.
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