April 15th is tax day. Tax day has historically been a good day for the market. A reason tax day may be bullish is that it is the last day that people can make IRA contributions to count for the previous tax year. This can create a last-minute rush and you will often have an inflow of funds heading into the market right around and on April 15th (or whenever tax day ends up falling, since it is sometimes delayed). Fund managers will often put this money to work immediately and it creates a positive bias for the market. But the edge has not played out as well in recent years. This can be seen in the chart below.

Is it still potentially bullish? I believe so. Is it the layup that it once appeared to be? No. But I still find it interesting and perhaps worth consideration when thinking about Wednesday’s potential.