February has historically been a rather bland month. Since 1950, S&P 500 has averaged a measly 0.001% gain. Over the more recent 21-year period S&P 500 average performance has declined to a loss of 0.4% in February. February’s first trading day has historically been good, and it was earlier this week, while trading days four, six, nine, ten and eleven have been consistently bullish over the last 21 years with each advancing at least thirteen times. Outside of these six days, the balance of February has been somewhat disappointing for bulls. Weakness after mid-month is most notable with every index giving back all of their respective gains by month’s end.