Just saw this on another thread FWIW...
>>>To: John Harton who wrote (8397)
From: John Harton Saturday, May 20, 2000 12:34 PM ET
Respond to Post # 8398 of 8415
The Daily News
I suspect like most on the thread, I find the greatest block of time to hit the charts on the weekends. It occurred to me that perhaps that I was getting skewed readings because the last candle(on a daily chart for example) would always be a Friday.(And don't many traders park in cash over weekends).
So.... ran a little test. Using historical SPY closings over the 6 months from Nov 20 1999 to May 20 2000 I logged the up vs down days(measured from the previous days close).
The results:
Mondays- 9 up, 14 down, 2 holidays, 1 deadheat(Nov 19 close @142.4688, Nov 22 close @142.4688 wow)
Tuesdays- 10 up, 16 down
Wednesdays-13 up, 13 down
Thursdays-15 up, 10 down, 1 holiday
Fridays-13 up, 10 down, 3 holidays
I would have thought more down Fridays? So go long at close Tuesday, then sell at close Thursday? Comments?
John
PS Why exactly am I expecting an up Monday?<ggg> <<<<<<<
Good Luck,
Lee |
