Back about a year or so ago, I had come across some charts that included historical data for the S&P, and NYSE. The charts showed that Wednesday rose head and shoulders above all other days for % cumulative gains from 1962 to 1978. Since this data seemed sort of dated, I re-created these charts for the NYSE and NASDAQ between May 2007 and February 2008. Sure enough, Wednesday spiked. (The original charts had burned beyond recognition when I fried my hard drive in the jungle heat recently but the original post sans charts was here.)
The September 2008 crash scrambled the stellar Wednesday performance somewhat but I decided to check and see if Wednesday was still top 'chimp' over the last year.
Since this is a Q-centric blog, I pulled the daily performance of QQQQ's over the last year using straight cumulative unit of measure, points (or $ in this case), as basis of comparison between days rather than % cumulative gain.
Is Monday the new Wednesday? Looks like the weekly trend needs a confidence booster, or a cappuccino injection.
As a reminder, the CMI 2.0 does not trade on a daily basis, but this information could be useful for timing short term trades.
Actually the CMI could use a couple of 'Mondays' this week. Let's hope that after praising Monday's performance that Murphy's Law is nowhere in sight.