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Tuesday, September 19, 2017 8:03:38 AM
DJIA, S&P 500 and NASDAQ Up 7 of Last 8 Years Day before Rosh Hashanah
By: Almanac Trader | September 18, 2017
Although not an official market holiday, Rosh Hashanah is observed by many New York area schools and many Jewish colleagues will also spend time observing the holiday with family and friends. Their absence can dampen trading volumes as positions are squared ahead of the holiday. This year Rosh Hashanah begins at sunset on Wednesday, September 20. This also happens to fall in the middle of one of the worst weeks of the year, the week after September options expiration.
Over the last 21 years the day before Rosh Hashanah has been up more than 50% of the time, but there have been some large declines that result in average losses across the board while Rosh Hashanah (or the next trading day) has recorded average gains. More recently DJIA, S&P 500 and NASDAQ have all been up 7 times in the last 8 years on the day before (and five straight) but those gains have been short-lived as the next day has been weaker, down 4 of the last five years.
http://jeffhirsch.tumblr.com/post/165487076673/djia-sp-500-and-nasdaq-up-7-of-last-8-years-day
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By: Almanac Trader | September 18, 2017
Although not an official market holiday, Rosh Hashanah is observed by many New York area schools and many Jewish colleagues will also spend time observing the holiday with family and friends. Their absence can dampen trading volumes as positions are squared ahead of the holiday. This year Rosh Hashanah begins at sunset on Wednesday, September 20. This also happens to fall in the middle of one of the worst weeks of the year, the week after September options expiration.
Over the last 21 years the day before Rosh Hashanah has been up more than 50% of the time, but there have been some large declines that result in average losses across the board while Rosh Hashanah (or the next trading day) has recorded average gains. More recently DJIA, S&P 500 and NASDAQ have all been up 7 times in the last 8 years on the day before (and five straight) but those gains have been short-lived as the next day has been weaker, down 4 of the last five years.
http://jeffhirsch.tumblr.com/post/165487076673/djia-sp-500-and-nasdaq-up-7-of-last-8-years-day
• DiscoverGold
Click on "In reply to", for Authors past commentaries
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!
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