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April’s Fool Day Phenomenon
by Lawrence Chan on Apr. 2nd, 2010 in Trading - General
One of the very rare calendar date based statistical bias happens on April’s Fool. No joke!
The Phenomenon
March 30 and March 31 each date produces an accumulated -15% return (non-compound, close to close) on Dow or S&P 500.
Then on April’s Fool, a whooping +15%. It is not the strongest performer in terms of calendar date bias, but definitely enabling the market to wipe out the losses made in the 2 prior trading days.
Maybe the stock market likes to pull a prank on its players too.
Note: Data collected over the past 50 to 60 years.
