abstract:June Gloom is a southern California term for a weather pattern that results in cloudy, overcast skies with cool temperatures during the late spring and early summer, most commonly in the month of June. Low-altitude stratus clouds are formed over the ocean, then transported over the coastal regions by the wind.
Southern California's seasonal "June gloom" weather, caused by a marine layer that traps smog over the Los Angeles basin, will probably pay an extended visit this year.
Many times over the past two years (such as Armageddon Fears Are Overblown on June 1, 2012 and Can Doom and Gloom Save the Market? on September 16, 2011), I have made the case that the internal strength of the stock market was signaling that the economy was actually stronger than most thought.