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Since 1928, the S&P 500 fell 1.1% on average during September, by far the worst performance of any month. October, November, and December were up 0.5%, 0.6%, and 1.4% on average (chart). Yes, Virginia, there really is a Santa Claus rally. Apparently, it tends to be even more likely during mid-term election years.
A September 23 post on TheStreet reported, "According to the Stock Trader's Almanac … September is the worst month for stocks. … Since 1950, October has been the 7th worst month for returns. However, returns are substantially better than usual in mid-term election years, with the S&P 500 and NASDAQ returning 2.7% and 3.1% on average."
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