Credit Suisse: Market's January Performance Was Sixth-Worst Since 1970

Benzinga

The SPDR S&P 500 ETF Trust (NASDAQ:SPY) on Tuesday afternoon traded down roughly 1.5 percent, while the Barclays iPath S&P 500 Short-Term Vix ETF (NYSE:VXX) gained just over 6 percent. January was a volatile month for the market, with SPY falling as almost 10 percent. The final eight trading days saw SPY add back nearly 7 percent to finish the month basically unchanged.

Mid-day Tuesday, Credit Suisse noted that Januarys average daily dollar value traded in the US was the sixth-highest monthly average for January at $343 billion. Volatility swelled in January, with 10 out of 19 days seeing a intra-day S&P 500 move of at least 2 percent.

Continue Reading Below

Credit Suisse's parting comments highlight that 18 Januarys since 1970 have been down months (not including January 2016) and nine times the index finished the year up.

We're 50-50 at this point, which should signal the uncertainty even Wall Street veterans embody regarding expectations for 2016.

2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.