The S&P 500 Retail group was up nicely during Black Friday trading. But does that mean the group is set up for more gains through the end of the year?
We went back and looked at the Retail group's performance on Black Friday and from the close on Black Friday to the end of the year since 1989. We found that gains or losses for the group on Black Friday has no correlation with gains or losses for the rest of the year. Of the 13 years that the group has been up on Black Friday, it has been positive for the rest of the year 6 times.