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The S&P 500 has staged a power rally in recent months – rising to a high of 53% (on Aug 7) from its Mar 2009 lows. Recently, however, the S&P 500 seems to have hit headwinds and has trended sideways for much of Aug. Why is this so?

What are the effects of an unusually strong summer rally on the September and October Effects? Will the momentum of the summer rally provide impetus for a better September and October, or does it increases the risk of a major correction?