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| The following chart presents the Dow Jones Industrial Average's average year cycle from 1896 to the present. |
| Point of Interest - This chart helps demonstrate what investors often refer to as the year-end or Christmas rally as well as the summer rally. But in general, the trend is up except for the end of the tax season (mid April - end of May) when all those checks go to the IRS and the "Autumn fall" (start of September - end of October). Remember that this is an average across many decades and that the "Autumn fall" does not always come to be as was the case in the 1910s and 1940s. As for the 1990s, the "Autumn fall" has started one and a half months early. |
| Note 1: All data is believed to be from reliable sources. Note 2: Past performance is in no way a guarantee of future results. |
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