Friday Rallies

The S&P 500 has rallied for the last five straight Fridays. That’s pretty impressive that there are buyers going into the weekend, and I think it signals some important confidence in the market.
So what’s the record for consecutive “up” Fridays? It turns out, we’re not even close. This is one of those Dimaggio-like records that may never be topped. From April to September 1955, the S&P 500 rose for an astounding 22 straight Fridays!
In the 1950s, Friday was almost a guaranteed money maker. During the decade, the market rose on 63% of the Fridays. The cumulative return was 138% over effectively two years (one-fifth of a decade).
For many years, the stock exchange had a brief Saturday session but that was eventually ditched in the early 50s.

Posted by on May 14th, 2009 at 4:23 pm


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