I've noticed Mondays have been very strong lately. The past few weeks, government officials worldwide reiterated stimulus, money printing and more stimulus - first in the G20 (2 weekends ago) and then in Asia (last weekend).
But, then I thought back and it seems like every Monday we walk into things that hammer the US dollar, and still the market soars. So I thought I'd look a bit closer.
Whatever (or whomever) is doing this seems to love marking the markets up on Monday. Just by chance? Or am I data mining?
If the pattern holds, you should be buying hand over fist for "Monday Mark Up," or at least covering any index short exposure. Considering we are sitting just over the 20-day moving average and we'll be drunk in some announcement over the weekend that will cause the US dollar to sink, odds are we're in for another lovely Monday.
I've cut back my index short upon noticing this trend plus the near term support level ....
