At the start of each month, we send members our seasonality report that highlights the historical performance of the US stock market by month. In our July report published yesterday, we highlighted the chart below which shows the Dow’s average change by month over the last 100, 50, and 20 years. One notable trend is that over the last 20 years, the Dow has actually averaged declines in half of all months. The summer months have been particularly negative, but July is the one month that stands out on the bullish side. As shown in the table, July is the only month from May through September that has averaged gains over the last 20 years, and the average gain has been quite strong at 1.32%. Click here to view Bespoke’s premium membership options for our best research available.