In the subscriber letter last night (and last year), I showed some studies that examined SPY performance in the last 15 minutes of trading for the year.  The table below is from those studies.  It shows all “last 15 minutes” from 1998 – 2014.

Seventeen declines and only three gains.  And the average 15-minute period saw SPY close down nearly 0.25%.  That is a sizable amount for just 15 minutes.  Traders may want to keep this in mind as we approach the close.

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