Few could argue after the month of June that we have not entered what some traders call "The Summer Doldrums." Usually preceded by "Sell in May, Go Away," the market enters a period of sideways trading off of a spring high, and then rallies into the fall.
Below we show the average, or summer composite, for this bull market, and the current performance to date, over the same time period. Given the history, we expect that the market might not make any prolonged moves either higher or lower. However, one point worth making is that at its current level, the S&P 500 is very near its 52-week high. Investors looking for value later on may not find it that easily.