Today is the last day before the President’s Day holiday. Over the last 22 years the Friday before President’s Day has been a poor performer. I showed this a couple of years ago in the 2/17/12 blog. I have updated the results in the table below.
Inclinations appear squarely bearish. Not shown above is that the average run-up has been 0.2%, and the average drawdown has been -0.9% over the years. Additionally, 2003 (+2.14%) was the only year that closed up more than 0.25%. The other 4 years in which SPX closed positive saw very small gains.
Also…Happy Valentine’s Day!
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