Posted by frtaylor on 24th of Jun 2021 at 10:35 am
From Stock Trader's Almanac FB page:
NASDAQ’s Mid-Year Rally Begins Early
In the mid-1980s the market began to evolve into a tech-driven
market and the market’s focus in early summer shifted to the
outlook for second quarter earnings of technology companies. In
anticipation of positive results, over the last three trading days
of June and the first nine trading days in July, NASDAQ typically
enjoys a rally. This 12-day run has been up 28 of the past 36 years
with an average historical gain of 2.6%. This year the rally may
have begun early and could last until on or around July 14.
After the bursting of the tech bubble in 2000, NASDAQ’s mid-year
rally had a spotty track record from 2002 until 2009 with three
appearances and five no-shows in those years. However, it has been
quite solid over the last eleven years, up ten times with a single
mild 0.1% loss in 2015. Last year, NASDAQ advanced a solid 4.7%
during the 12-day span.
We didn't really have much of a June downturn given that we are
at fresh highs...there is still some month left. The Nasdaq is
pretty overdone now, guess it could go up but the risk/reward for
new money isn't attractive. Good for long term assets at the
moment. Like always, we will know when we know. I buy good weakness
and sell into good strength.
From Stock Trader's Almanac FB
Posted by frtaylor on 24th of Jun 2021 at 10:35 am
From Stock Trader's Almanac FB page:
NASDAQ’s Mid-Year Rally Begins Early
In the mid-1980s the market began to evolve into a tech-driven market and the market’s focus in early summer shifted to the outlook for second quarter earnings of technology companies. In anticipation of positive results, over the last three trading days of June and the first nine trading days in July, NASDAQ typically enjoys a rally. This 12-day run has been up 28 of the past 36 years with an average historical gain of 2.6%. This year the rally may have begun early and could last until on or around July 14.
After the bursting of the tech bubble in 2000, NASDAQ’s mid-year rally had a spotty track record from 2002 until 2009 with three appearances and five no-shows in those years. However, it has been quite solid over the last eleven years, up ten times with a single mild 0.1% loss in 2015. Last year, NASDAQ advanced a solid 4.7% during the 12-day span.
So June Swoon is over
Posted by fredsaid on 24th of Jun 2021 at 10:57 am
So June Swoon is over ?
We didn't really have much
Posted by fundamentalvalues on 24th of Jun 2021 at 11:47 am
We didn't really have much of a June downturn given that we are at fresh highs...there is still some month left. The Nasdaq is pretty overdone now, guess it could go up but the risk/reward for new money isn't attractive. Good for long term assets at the moment. Like always, we will know when we know. I buy good weakness and sell into good strength.
Agreed, especially since the June
Posted by frtaylor on 24th of Jun 2021 at 02:53 pm
Agreed, especially since the June week after expiration (this week) is supposed to be "horrendous" to use STA's term.
SPX dip was pretty muted
Posted by fundamentalvalues on 24th of Jun 2021 at 11:55 am
SPX dip was pretty muted too, just a quick 50 day touch, then gap city higher since then