Results of Thursday’s Best S&P Turning Points: Neither suggestion triggered.
Today’s Best S&P Turning Points (consider wider stops and less size in fast moving markets):
Buy 3921.50 stop 3915.75. Short 4010.00 stop 4013.75.
The World Sentiment Index: (+100/-100) EASES from +36 to +29 in a world of mixed sentiment with volatility increasing. Historically the close was higher than the open 55% of the time.
Catalysts: Import/Export Prices @ 8:30. UM Consumer Sentiment & Inflation Expectations @ 10:00.
Quick Tip: Lucky 13?
Friday the 13th is more common than you may think. In fact, the 13th of the month falls on Friday more than any other day.
The number 13 is associated with bad luck (no 13th floor in most buildings). But not for the stock market. The average gain on this day is 3 times more than the overall average gain for all days. However, those gains are less than half of all other Fridays.
Friday’s going into 3-day weekends are even better. Maybe feeling good about a holiday break causes the anomaly.
Here’s the bottom line. Since Fridays are the best performing day of the week for stocks consider selling or shorting today. It’s a very thin edge but fun to share.
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