|Dow’s “summer” gain — over the six months beginning on 5/1||Dow’s “winter” gain — over the six months beginning on 11/1|
|Average since 1896||1.7%||5.1%|
I learned the hard way that seasonality works by fighting the market at the strongest parts of the year earlier in my investment career. Seasonality is not a be all and end all. It is one of many indicators I use to form a market opinion.