What’s Ahead Friday After This One?
The stock market just couldn’t help itself on the last Friday of the month with tickers bouncing all over and another bout of volatility.
The good news is that Good Friday next week could help insightful traders looking for an edge before the market shuts down for the holiday weekend.
Next week is one of those points in time where traders who track technical analysis can spot an historical pattern in the data. In 19 of the last 20 Thursdays before Good Friday, the market session has rolled to the upside.
If selling is busy Wednesday, there is the possibility of more buying opportunities leading into the expected uptick on Thursday. This isn’t a “Holy Grail” of historical data, but it is a long-standing pattern that Simpler’s traders will watch closely.
Why not take advantage of any historical hints?
Simpler’s traders continue to follow this market as it appears to continually fight toward more steady patterns. Matching historical points in time with current conditions sometimes offers more confidence in analysis.
The market plodded along with heavy chop through much of the session today (Friday) before erasing any earlier losses across the board. All three major indexes closed with better than a 1% gain.
How will this play into the short week ahead?
We’ll keep an eye on the action and charts… watching for a rolling repeat of history.
We Saw: Market with strong recovery into the close —
- Dow, S&P 500 hit records on last Friday of month
- Nervous coffee drinkers over Suez Canal blockage
- States set to pick pockets full of Fed business relief money
We’re Watching: Market chopping along into higher territory —
- Expectations of historical setup before Good Friday
- Will April momentum grow higher highs in May?
- Fast, high-probability moves with quick gains