The S&P 500 has now clocked a truly incredible 20% rally over the past 6 months. Particularly striking since the global economy and corporate revenues have been declining throughout. There are few skeptics left it seems, but for anyone who is at all concerned about support or sustainability of rocket high stock prices, here is a chart worth considering. More than 50% of the market gains since November have come on Tuesdays each week. See: This is your S&P; this is your S&P without Tuesdays
Indeed without Tuesday price gains each week, the S&P would be flat year to date since January.
Groovy Tuesdays indeed! Ah yes the incredible Tuesday effect, I remember learning all about this naturally recurring phenomenon in my market dynamics studies and investment text books. Sure, perfectly natural. No whacky computer trading at work here at all. Solid investment climate….all good; why question–all on board.
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