Well, after today it sure seems as if we’re well on our way to the fourth consecutive month of decline. Mark Hulbert at MarketWatch says the odds are against another losing month though:

Coming on the heels of three losing months in a row for the stock market, Monday’s action raises the gloomy prospect that December will become the fourth straight month in which equities decline.

If that comes to pass, however, it would be quite rare indeed: Since 1896, when the Dow was created, there have been only 18 occasions in which the market has declined for four or more months in a row.

There may be something wrong with my reasoning, but it seems to me that the odds of the market being up or down in any given month are always exactly the same: 50/50.