SPX News by Allie Longford on 02:23 January 02, 2017 EST
Following the abrupt end of the year for stocks where the Dow Jones gave up topping the 20,000 mark before the last bell and the Standard and Poors 500 shed 50 points in a couple of days it is worth noticing that the first month of the year is not consistent with the one way -upward- street narrative.
The S&P 500 has dropped in January for the past three years and in 2016 it had the worst start of the year for decades.
In addition, in the past ten, the index ended the month below the opening in six of them.
With stocks at all time highs, the transfer of power to the Trump administration in the US, elections and some financial turmoil in several countries in Europe the set up is there for a sizeable correction.