Historically Mondays have been the worst performing day of the week. But recently Mondayss have been the stronger day of the trading week and account for all the bull move of the last 16 weeks:
"Although it was one of the smaller Monday gains in the last three months (0.17%), today's advance in the S&P 500 keeps the 'Monday Bull Market' rally intact. As shown below, the S&P 500 has now seen gains on fourteen of the last sixteen Mondays with an average change of +0.81%. The index's average rest of week performance has been a decline of 0.21% with positive returns only half of the time. If it weren't for Mondays, we would be staring at a much different market picture." in Bespoke
I do not think this pattern will hold for much longer and we will see a lot more of "red" Mondays.
Related ETF`s: SPDR S&P 500 (ETF) (Public, NYSE:SPY)
No comments:
Post a Comment