Last Updated on June 19, 2022 by Quantified Trading
The day of the week effect in stocks is strong. Some days are simply better than others.
Previously there has been a certain day-of-week seasonality in the S&P 500. Here is a summary of the average gain since 1. January 2010 until the 1st of July based on weekdays:
|Close to||Close to||Open to||Close %||Close %||Open %||Open %|
|close||open||close||to low||to high||to low||to high|
Close to close: Mondays are from close on Friday until close on Monday
Close to open: Mondays are today’s open based on close on Friday
Open to close: Mondays are average gain from open until Monday’s close
Close % to low: how far close is above today’s low
Close % to high: how far close is below today’s high
Open % to low: how far open is above today’s low
Open % to high: how far open is below today’s high
During this period the S&P has risen about 24%. And as you can see, the best days seem to be early in the week.
I’m just posting these numbers now so the readers can have a look at it. Later I’ll try to make some profitable strategies based on these numbers.
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