After a disappointing last year, benchmark indices have gained significantly in the first month of 2023. The S&P 500 gained 7.3%, while the Dow Jones Industrial Average gained 2.9%. Historically, more than 85% of the time, the market has performed well throughout the year if it is up in January.
Moreover, the stock market gained during the Santa Claus rally, the first five trading days of 2023, and in January, marking the 'trifecta of bullish indicators.' Consequently, trifecta researcher Jeff Hirsch of the Stock Trader's Almanac believes, "You should be bullish for this year. The market is probably going to go up significantly higher."
