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The notion that January sets the investing tone for the year has been a less-than-reliable tool lately, something to keep in mind as the market prepares to break another psychological barrier.

There are twin theories about the first month of the year: The notion that “as goes January so goes the rest of the year,” as well as the January Effect, which says that late-year selling usually begets early-year buying.

Both have been missing the past two years in the stock market, with each producing a negative first month that preceded strong gains through the full year.

Read the complete article here.

Happy trading,

Curt