This year we have seen strong upward momentum heading into Thanksgiving, with SPX closing at a new intermediate-term high on Wednesday. I decided to look back at other times SPX closed at a 50-day high on the day before Thanksgiving.

Results over the next 1-3 days appear quite bearish. I will note that there were a couple instances that occurred just prior to the sample set that were mildly positive over the 2-day period. But the poor performance over the last 30 years (9 instances) is notable and interesting. Below is the list of instances.

Traders may want to take this under consideration when setting their trading bias over the next couple of days.

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