Chart of the Day - Wednesday, April 27th, 2022

Today’s Chart of the Day comes from Jeff Hirsch (@AlmanacTrader). The chart shows how the S&P 500 has historically performed in Midterm Election Years. The S&P 500 is currently down more than 12% YTD, marking one of the worst starts to a year. The bad news for the bulls is that seasonality usually peaks right about now, and doesn't improve until around November. If stocks couldn't even rally when seasonality was a tailwind these last few months, how will they perform when seasonality becomes a headwind over the next six months?