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The January Barometer

It's that time of year again when the media is abuzz with that old stock market saying, "so goes January, so goes the year." With the D-J Industrial Average (INDU/17164.95) off by 3.69% for the month of January, and the S&P 500 (SPX/1994.99) down 3.10%, it is worth revisiting the January Barometer. Devised by Yale Hirsch in 1972, as reprised in his publication The Stock Traders' Almanac, the January Barometer states, "As goes the month of January, so goes the year," obviously referring to the direction of the equity…