The past two Aprils and how markets reacted for the rest of the calendar year.

In both the April of 2024 and the April of 2025 we saw the S&P 500 bottom (down \~5% from highs in 2024 and down \~17% from highs in 2025).

From those respective lows, the market rallied \~20% into January 2025 and \~37% into January 2026.

This probably has no effect on April 2026 and the market’s behavior heading into January 2027… but still, it’s an interesting pattern...