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Saturday, April 30, 2016 10:42:10 AM
ALMANAC TRADER: Will May’s first trading day snap losing streak?
* April 30, 2016
As of about 3:00 today, the market has now given back most of its April gains and in some cases, even more. Small-caps are preforming best with the Russell 2000 still holding onto a 1.1% gain. DJIA is up 0.2%. S&P 500 is off 0.1% and NASDAQ is the worst off 2.3% for the month of April. The end-of-month weakness is likely the confluence of tepid economic data, relatively lackluster earnings, disappointment in the Bank of Japan and possibly some early “Sell in May” trades now that the market failed to breakout above its all-time highs from last May.
Next Monday, the first trading day of May has a bullish history over the past 21-years and could provide at least a brief reprieve from this week’s selling. DJIA, S&P 500 and NASDAQ have all averaged 0.5% or better on the day up twice as often as down (or better). Russell 2000 is slightly weaker with an average gain of 0.39% with five of its seven declines occurring in the last seven years.
http://jeffhirsch.tumblr.com/post/143593715578/will-mays-first-trading-day-snap-losing-streak
• DiscoverGold.
* April 30, 2016
As of about 3:00 today, the market has now given back most of its April gains and in some cases, even more. Small-caps are preforming best with the Russell 2000 still holding onto a 1.1% gain. DJIA is up 0.2%. S&P 500 is off 0.1% and NASDAQ is the worst off 2.3% for the month of April. The end-of-month weakness is likely the confluence of tepid economic data, relatively lackluster earnings, disappointment in the Bank of Japan and possibly some early “Sell in May” trades now that the market failed to breakout above its all-time highs from last May.
Next Monday, the first trading day of May has a bullish history over the past 21-years and could provide at least a brief reprieve from this week’s selling. DJIA, S&P 500 and NASDAQ have all averaged 0.5% or better on the day up twice as often as down (or better). Russell 2000 is slightly weaker with an average gain of 0.39% with five of its seven declines occurring in the last seven years.
http://jeffhirsch.tumblr.com/post/143593715578/will-mays-first-trading-day-snap-losing-streak
• DiscoverGold.
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
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