January market indicator points south

What happens to stock markets in January is often mirrored for the rest of the year. Unfortunately, it's not been a good month for equities.

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With the economic and earnings outlook still darkening, there's no reason to expect a significant bounce in equities anytime soon.

And a non-fundamental indicator consistently in the news at this time of year is giving a gloomy reading too. According to the well-known market axiom, "as January goes, so goes the year".

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