Friday Rallies Signal Confidence in Market

The S&P 500 has rallied for the last five straight Fridays. That's pretty impressive that there are buyers going into the weekend, and I think it signals some important confidence in the market.

So what's the record for consecutive "up" Fridays? It turns out, we're not even close. This is one of those Dimaggio-like records that may never be topped. From April to September 1955, the S&P 500 rose for an astounding 22 straight Fridays!

In the 1950s, Friday was almost a guaranteed money maker. During the decade, the market rose on 63% of the Fridays. The cumulative return was 138% over effectively two years (one-fifth of a decade).

For many years, the stock exchange had a brief Saturday session but that was eventually ditched in the early 50s.

Comments

[William Cowie:]

Of course, reality can set in on any given Friday...

May 15 01:47 AM

[Roger Knights:]

These Friday rises may be an indication of market manipulation.

May 15 06:17 AM

[Speedspirit:]

We all trade to make some money so I hope that the streak continues so we can make some money. I also hope that the manipulators get caught and thrown in jail so the rest of the world can prosper.

May 15 07:15 AM

[Old Trader:]

I dunno...the first thought that crossed my mind upon reading the statistic mentioned about the market performance on Fridays during the current rally, was...the PPT at work.

May 15 11:15 AM