Mid-August has historically better performing than the beginning and the end of the month. This strength is punctuated with a streak of bullish days this week from today to Wednesday. In the annual Stock Trader’s Almanac, a bullish day is defined as a trading day in which the S&P 500 has risen greater than or equal to 60% of the time over the last 21 years.
Unfortunately, this bullish cluster has not always resulted in full-week gains during August’s monthly option expiration nor does this daily bullish streak guarantee market gains on each day. DJIA and S&P 500 have declined on August option expiration day seven times in the last twelve years but have been up four in row since 2018. Full week performance has been mixed over the longer-term. S&P 500 and NASDAQ lean bullish with more weekly gains than losses while DJIA has the opposite record, more weekly losses than gains.
Image and article originally from jeffhirsch.tumblr.com. Read the original article here.