The S&P 500 has closed lower in 8 of the last 11 trading days. In the 2nd quarter, the S&P has only closed positive 40% of the time, which is quite a losing streak compared to the 1st quarter when the index was higher on 63% of trading days. Since 1957, the S&P has closed higher on just over 52% of days. The skew between the first part of the year and the last month and a half has brought the full year closer to the long term average. For all of 2012, 55% of days have been positive.