The January Indicator

This is a chart of the January indicator. This theory hypothesizes that when January finishes in positive territory, and vice versa. I do not buy into this theory whatsoever as there are many other factors that drive markets. If you look back at the last 10 years 6 time the theory has held true, 4 times it hasn't. Now looking back further, it seems as though it is right more often, but I think it is wise to only consider the recent pieces of data, as those are the economic conditions most similar to ours today.