A bad week for trading
The week of the Presidents Day holiday generally produces declines in the S&P 500.
If history is any guide, this isn't a week to make money in the market.The Bespoke Investment Group went back nearly 40 years analyzing the market's performance in the shortened President's Day work week. As it turns out, the S&P 500 declines an average of 0.20% for the week.
Normally, the market gains 0.12% to 0.15% in a work week, so a 0.20% drop is bad, Bespoke reports.
The performance was different depending on whether the market was up or down heading into Presidents Day. This year, by the way, the S&P 500 is down 3.55% year to date, Bespoke reports.
In years when the market was up heading into President's Day, the index has averaged a gain of 0.20% during President's Day week. In years when the market was down heading into President's Day, the index has averaged a decline of 0.77% during President's Day week.
| Tags: | Kim Peterson |
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