Are stock indexes experiencing Deja vu?

摘要

It has been another roller coaster year for stock indexes. In June, the Dow Jones Industrial Average opened 24% higher than on June 1, 2010, but closed the month with a lower high and lower low from May. The Dow began 2011 at around 11,600, rallied near 13,000 in April and May, and then dipped below 12,000 in June. Movement in the S&P 500 was similar, as the S&P was up 23% from June 2010 to June 2011. Surprisingly, these numbers are very close to the gains the indexes made this time last year. Further, the chart patterns are similar to a buildup for the first part of the year and a selloff in May and June (see "Sell in May," right).