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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Paul Shread who wrote (39295)8/29/2002 3:27:54 PM
From: Terry Whitman  Read Replies (2) of 52237
 
Price Headley sez-

>Historically, the last two days of August are down days for the market. In fact, for the last five years in a row, the Dow has dropped an average of 1.44% on the last Thursday in August. None of those days were even threatening to make a move into positive territory.

Depending on the calendar year, sometimes the last Thursday in August falls right before Labor day weekend, and sometimes it does not. This is also important to know, because the day two days prior to the Labor Day holiday are also typically down days. Today would be the day two days prior to Labor Day this year. The futures are pointing us today in the same direction that history has - down.

What is interesting is the fact that the Friday before Labor Day is traditionally an up day, where the Dow has seen increases. This has been true for the last three years.

While tomorrow lies in question (about whether the holiday bulls or the last Friday-in-August bears will be victorious), today it seems history has further solidified the down trend.<

Looks like he's got that last bit wrong, anyway.

A couple of days back he said that the weekly close should be above the previous week's low- or a change in trend (to down) is confirmed. Last week's SPX low was around 928, I believe..
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