Traders work on the floor of the New York Stock Exchange (NYSE) on the first trading day of 2024 on January 02, 2024 in New York City.
Stocks' shaky start to 2024 is sparking concerns among some traders, but they shouldn't let this bout of volatility spook them from what could be a rewarding year.
Citing the "first five days" indicator, traders worry that the poor performance of stocks since 2024 began is a harbinger of bad things to come on Wall Street.
However, that indicator, popularized by the Stock Traders Almanac, doesn't seem to have the predictive power many once believed it had.
The same goes for the so-called "January barometer," which claims that "as January goes, so goes the market."
Persons:
Stocks, I've
Organizations:
New York Stock Exchange, Stock Traders, Dow
Locations:
New York City, Dow Jones