Tuesdays Continue to Rule

Thanks to yesterday’s late-day rally, the Tuesday Effect continues to rule the market. While the market has done poorly since April 29th, Tuesdays, on average, have been very good.

Here are the returns by day of the week since the market topped on April 29th.

Day Return Count
Monday -7.25% 20
Tuesday 14.75% 23
Wednesday -9.21% 22
Thursday -6.21% 22
Friday -9.05% 22

From the April 29th top to yesterday’s close, the S&P 500 is down 17.58%. My guess is that the Tuesday Effect is due to the political nature of this downturn. Bad news strikes over the weekend due to some decision made in Europe or Washington. Stocks then sell off on Monday and subsequently rebound on Tuesday.

Posted by on October 5th, 2011 at 1:10 pm


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