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Wednesday, March 27, 2024 1:04:22 PM
Market Historically Strong Ahead of Good Friday
By: Almanac Trader | March 27, 2024
Good Friday is the one NYSE holiday with a clear positive bias before and negativity the day after (Stock Trader’s Almanac 2024, page 100). DJIA, S&P 500, NASDAQ, and Russell 2000 all have solid average gains on the three days and full week (shortened) before Good Friday. NASDAQ has been notably strong, up 21 of the last 23 days before Good Friday with an average gain of 0.79%. NASDAQ declines occurred in 2017 (–0.53%) and 2022 (–2.14%).
However, the day after Easter has a weak longer-term post-holiday record. The S&P 500 was down 16 of 20 years from 1984-2003 on the day after Easter while it has been up 13 of the last 20 years. Post-Easter weakness has been generally short-lived with solid average gains 2- and 3-days after.
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By: Almanac Trader | March 27, 2024
Good Friday is the one NYSE holiday with a clear positive bias before and negativity the day after (Stock Trader’s Almanac 2024, page 100). DJIA, S&P 500, NASDAQ, and Russell 2000 all have solid average gains on the three days and full week (shortened) before Good Friday. NASDAQ has been notably strong, up 21 of the last 23 days before Good Friday with an average gain of 0.79%. NASDAQ declines occurred in 2017 (–0.53%) and 2022 (–2.14%).
However, the day after Easter has a weak longer-term post-holiday record. The S&P 500 was down 16 of 20 years from 1984-2003 on the day after Easter while it has been up 13 of the last 20 years. Post-Easter weakness has been generally short-lived with solid average gains 2- and 3-days after.
Read Full Story »»»
DiscoverGold
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