Tough Start, but Week before Thanksgiving Usually Bullish By: Almanac Trader | November 13, 2018
In addition to this week being options expiration week, this week is also the week before Thanksgiving week. This overlap occurs in most years, but not all. November 2013 would be the most recent example when they did not overlap. After today’s declines, the market will need a strong showing to return to the black by the end of the week. Nonetheless, the overall bullish bias that options expiration week exhibits also exists during the week before Thanksgiving week. Over the last 22 years, DJIA has advanced 72.7% of the time during the week. DJIA has gained an average of 0.61% to S&P 500 0.30%. NASDAQ and Russell 2000 are slightly weaker, up just 63.6% of the time with average gains of 0.55% and 0.20% respectively. Steep losses occurred in 2008 during financial crisis and 2011 also hosted sizable losses.
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