These results are similar to the ones I showed last year. In fact the negative influence is now even more pronounced. To see how poorly the market has performed under these conditions in the last year I re-ran the test to show just the time period since the original blog piece:
The fact that the 0.75% hurdle has become easier to achieve hasn’t weakened the bearish influence of the setup. I attribute a large part of reason for this to be the exceptionally choppy environment the market has been in over the time period.