The Weak Tendency Before President’s Day

Friday is the last trading day before the President’s Day holiday. The day prior to many holidays we see a bullish tendency. This is NOT the case with Presidents Day. Over the last 20 years the Friday before President’s Day has been a very poor performer. I showed this last year in the 2/18/11 Subscriber Letter. I have updated the results in the table below.

Inclinations appear squarely bearish.