The beginning of the year is often full of talk about what indicators to watch as to how the year may unfold: the first five days indicator, the January effect, the Super Bowl indicator, even the Chinese lunar New Year cycle, among many others. Many of these indicators claim to tell us either the outcome for the year or the pattern stocks may take for at least part of it. While most of these are little more than folklore and are easily discredited upon analysis, there is one that has stood the test of time, and I call it: the Year-Two Curse….

The Two-Year Curse