The first five trading days of the new year are officially in the books, and, so far, so good. Despite the rough start, Friday's big jump and a palatable start to this week mean the S&P 500 was up 1.4% for the five-day span.

And that's got many investors excited. See, the gain theoretically points to continued bullishness for the remainder of 2023. The underlying axiom is called the "first five days" theory, which assumes investors tip their hands early on in the calendar year.

The thing is, you may not want to have too much faith in this premise.

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Source Fool.com