After the worst start to a year after 28 days for the S&P 500, 2016 has bounced back nicely. In fact, as of September 5, the S&P 500 was up 6.7% (on a price basis) year to date, versus the average for September 5 since 1950, of up 5.2%. It’s safe to say that during the first week of February, not many would have ever expected that, but it has happened.

So, what’s next? Well, looking at seasonality, the second half of September tends to see a peak, followed by equity weakness into late October. Will it happen this year is anyone’s guess, as 2016 has been anything but a normal year for equities; yet history would say, be careful here.

IMPORTANT DISCLOSURES

Past performance is no guarantee of future results. All indexes are unmanaged and cannot be invested into directly.

The opinions voiced in this material are for general information only and are not intended to provide or be construed as providing specific investment advice or recommendations for any individual security.
The economic forecasts set forth in the presentation may not develop as predicted.

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The Standard & Poor’s 500 Index is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.

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