The week of Memorial Day has shown some interesting tendencies over the years. It has been less consistent recently. The chart below examines SPX performance from the Friday before Memorial Day to the Friday after it.
There was no substantial edge apparent throughout the 70s, but starting in 1983 through 2009 there was a substantial bullish tendency. The last 16 years this week has seen more of a struggle. But there remains one day during Memorial Day week where the upside tendency seems to have persisted. That day is Thursday.
A 70% win rate and a strong, steady move higher suggest Thursday looks like a pretty good day from a seasonal standpoint. Traders may want to keep this in mind for later this week.
Related Quantifiable Edges Studies
- An updated look at Thanksgiving Week Stats
- The Reversal Tendency of Labor Day Week
- Will Tomorrow Be Another Bullish Holy Thursday?
- Twas 3 Nights Before Christmas (Russell 2000 version)
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