by Simon Maierhofer
Battered investors are looking for light at the end of the tunnel. Here is at least a small glimmer: The most bullish day of the year is here. According to Stock Traders Almanac, July 1 (or which day is the first trading day of July) is the most bullish day of the year.
Over the past 21 years, the S&P 500 has advanced 85.7% of the time on the first trading day of July. The average gain is 0.46%.
[…] Those are pretty good odds, but it’s only one day. Assuming July 1 is an up day, there is obviously a bigger issue: Is this actually light at the end of the tunnel or just another train (dead-cat bounce)?