Seasonality isn’t a crystal ball—it’s a framework. In the 82nd episode of the Market Misbehavior podcast , Dave chats with Jeff Hirsch, editor of the Stock Trader’s Almanac, to review what surprised us in 2025 and how seasonal tendencies, election-cycle history, and market signals can help investors set expectations for 2026.

Topics covered include: what the Almanac says about midterm election years, why 2025 didn’t follow the classic seasonal script, what the Santa Claus Rally actually measures, how the “January indicator trifecta” is used as an early-year gauge, and how macro shocks can overwhelm (or reinforce) seasonal tailwinds and headwinds.

Key takeaway: Use seasonality as context—not certainty. When markets don’t behave as expected during traditionally bullish or bearish windows, it can be a clue that other forces are in control. The goal is a disciplined process: understand the playbook, watch the confirmations, and stay flexible when conditions change.

You can learn more about Jeff's work at https://www.stocktradersalmanac.com/ and grab your copy of the 2026 Stock Trader's Almanac at https://amzn.to/4oYiQGm.

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The content in this presentation should not be considered as a recommendation to buy or sell any security. All information is intended for educational purposes only and in no way should be considered as investment advice.