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This Friday, Jan. 13 might bring more joy than superstition to stocks if history is a guide.
Despite the market’s struggles with volatility that show no sign of ending as the Federal Reserve continues to wrestle with inflation, this superstition-laden day could modestly flip it to the upside, according to data compiled by “The Stock Trader’s Almanac” author Jeffrey Hirsch.
What Happened: Since 1930, when Friday the 13th fell in the month of January, the SPDR S&P 500 ETF Trust SPY has seen a return of 0.01%.
The ETF had traded 13 times in January on Friday the 13th and closed higher seven of those 13 times.
|
Date
|
Close
|
Return
|
|
1/13/1933
|
7.25
|
0.28%
|
|
1/13/1939
|
12.33
|
-1.12%
|
|
1/13/1950
|
16.67
|
-0.54%
|
|
1/13/1956
|
44.67
|
-0.18%
|
|
1/13/1961
|
59.60
|
0.47%
|
|
1/13/1967
|
84.53
|
0.74%
|
|
1/13/1978
|
89.89
|
-0.14%
|
|
1/13/1984
|
167.02
|
-0.44%
|
|
1/13/1989
|
283.87
|
0.25%
|
|
1/13/1995
|
564.97
|
0.94%
|
|
1/13/2006
|
1287.61
|
0.12%
|
|
1/13/2012
|
1289.09
|
-0.49%
|
|
1/13/2017
|
2274.64
|
0.18%
|
|
1/13/2023
|
???
|
??? |
|
Average: 0.01%
|
When the six down days were removed, the S&P 500 returned a modestly bullish 0.12%.
This ties January with March and May for the sixth-best month for Friday the 13th’s impact on the market, behind February, April, October and November.
The historic trend might cause the S&P 500 and the SPDR Dow Jones Industrial Average ETF DIA to push higher.
In contrast, June and August closed higher more times than lower when Friday the 13th landed in those months, returning an average 0.49% and 0.48%, respectively.
“Since 1930, the S&P 500 has traded a grand total of 156 Friday 13th across all 12 months,” Hirsch said on Twitter Thursday. “The overall track record is 86 up days and 70 down days with a modestly bullish average gain of 0.04% on all Friday 13ths.”
Read Next: What’s Next For The Markets After Inline CPI, With Q4 Earnings Looming?
Photo: Ollyy via Shutterstock
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Image and article originally from www.benzinga.com. Read the original article here.