<one of the most profitable holiday trading days for the upside>
According to my almanac, the period between 6 trading days prior and 4 days after Independence Day has been profitable 83% of the time over the last 6 years - 5 of 6. The average move has been 891 spoo points.
I don't have specific data on today.....well actually I have this, which I "lifted" from Hank's report.
Dating back through 1991, trading days immediately prior to the market's July 4th Holiday observance have closed negative
57% of the time. HOWEVER, whenever the "holiday" observance was a Friday (as currently), the Dow's closing average has been
50/50, i.e. negative in 1991, positive last year in 1997. (And, keep in mind that last year's +101, +1, close +78 day ALSO
followed an FOMC "announcement" day, as we are today as well).
Whatever. |
