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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Suresh who wrote (11718)1/4/1999 6:21:00 PM
From: Patrick Slevin  Read Replies (2) of 44573
 
I hear and read all kinds of things, Yale Hirsch says that since 1950 (I think) if the SPX was net positive during the first 5 trading days the market ended up positive for the year all but 4 times.

Conversely, if the SPX was down as it was 17 times then 8 times the market ended down and 9 it ended up.

Ah, I was just checking Frank Taucher's stuff for similar things and hit on the same thing...sort of. He says the first 5 days of January have forecast the entire year's direction in 34 out of the last 47 years excluding 1998....he wrote this before '98 closed out. He says it has only worked 6 times in the last 10 years though.

Personally I think it would be downright un-American for the market to collapse going into the New Millennium....at least it would be if I don't get a chance to get short first.
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