---
title: "“五月卖出” 策略在本世纪表现不佳：今日图表"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/285389890.md"
description: "传统的投资策略 “五月卖出，远离市场” 在近年来已被证明效果不佳。历史上，投资者被建议在四月之后减少市场敞口，并在秋季回归。然而，最近的标普 500 数据表明，这一季节性趋势已经发生变化，暗示该策略可能不再有利"
datetime: "2026-05-06T13:43:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285389890.md)
  - [en](https://longbridge.com/en/news/285389890.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285389890.md)
---

# “五月卖出” 策略在本世纪表现不佳：今日图表

“Sell in May and stay away” used to have a case. Lately, it’s mostly had a cost. The old warning says investors should reduce exposure after April and come back later in the year, usually around October or November. But S&P 500 (^GSPC) history shows the seasonal map has changed a lot depending on the market era — and the modern version looks much l...

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