The week between Christmas and New Year’s is often a quiet one that is not prone to large-move days. So strong rallies like we saw on Tuesday are a bit unusual this time of year. I looked back to 1970 to see what has followed other times when SPX rose over 1% on a day between Christmas and New Year’s. Results are below.
The stats here all point to a bullish edge. Most of the gains were realized in the first 2 days, but the edge does appear to persist through day 5.
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