Before you get too excited about the future, I wanted you to peer into the past and recount how often the market had gone up on Mondays — only to soon after slide down for the balance of the week in perfidious manner.
In Stocklabs, we measure all sorts of stuff. In this instance, the percentage returns for the NASDAQ from March to date 2023, by days of the week. You’ll notice, if you’d kindly fix your monocles on the chart below, the NASDAQ has gone up 77% of the time on Mondays.
I closed out my shorts and longs and just hold $SPOT now, +32bps for the session. The NASDAQ is up a cool 150+ or so from the lows and I was of course clever enough to get out of the way. I’m always clever enough, always will be.
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You are WRONG on this one, bro, and your frenetic trading strategy and
opinion shifts may be OK for you, but they are POISON to the plebes.
The only thing that appears different for today is that the Dollar and Rates are both down. Dollar looks like it is rolling over. If those continue to drop this week, that will give a spark to equities.