Courtesy of Trader Mark at Fund My Mutual Fund
I’ve noticed Mondays have been very strong lately; the past few weeks government officials worldwide reiterated stimulus, money printing, and more stimulus – first in the G20 (2 weekends ago) and then in Asia (last weekend). But then I thought back and it seemed like every Monday we seem to walk in to things that hammer the US dollar, and the market soars. So I thought I’d look a bit closer.
Whatever (or whomever) is doing this, seems to love marking the markets up on Monday. Just by chance? Or am I data mining? If the pattern holds you should be buying hand over fist for "Monday Mark Up"… or at least covering any index short exposure. Considering we are sitting just over the 20 day moving average and we’ll be drunk in some announcement over the weekend that will cause the US dollar to sink…. odds are for another one lovely Monday?
I’ve cut back my index short upon noticing this trend plus the near term support level ….