For whatever reason, the 1st trading day of November has shown a positive bias for a bit longer than most months. Below are the results looking back to 1978.
Monday, November 1, 2010
1st Day of November Tendency
I've discussed before how the 1st day of the month tends to have a bullish bias. This has been the case since the late 80s. (Perhaps due to the rise in popularity of the 401k.) In July 2009 I looked back to 1987 and broke down the 1st day returns by month.
For whatever reason, the 1st trading day of November has shown a positive bias for a bit longer than most months. Below are the results looking back to 1978.
For whatever reason, the 1st trading day of November has shown a positive bias for a bit longer than most months. Below are the results looking back to 1978.
Not only that, but the whole month of November is the no. 2 best month on the S&P since 1950, according to the "Stock Trader's Almanac".
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