Yesterday was the first day of June, and also marked the beginning of the historically worst time of the year for stock prices. Since 1985, the Standard & Poor's 500 index has averaged a positive performance in each of the first five months of the year - until we get to June, when it has averaged a drop of 0.1 percent.
And it doesn't get much better from there. Over the four months of summer - June, July, August and September - only July has seen an average increase in the S&P since 1985. In August it has dropped 0.6 percent, and September it has dropped 0.7 percent.
Those three months are the only calendar months in which the S&P has fallen on average. That's one reason you'll sometimes hear the adage: "Sell in May, and then go away."
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