Martin Luther King Jr. Day was Monday. The NYSE has only observed MLK Day as a holiday since 1998. But over that 15 year period the market has not done well during MLK week. I discussed this last year in the 1/17/12 Subscriber Letter. Below is an updated chart with stats showing performance for the whole (4-day) week over time.
MLK week has exhibited a bearish tendency over the last 15 years. The market has been strong lately, but if it is going to pull back this upcoming week could be an opportune time for the bears.