S&P 500 IndexShort
S&P Bat Pattern & Memorial day
Looks like we are closing on a bat pattern (I agree it's a bit border line...)
Over the past 50 years, S&P declines on average 4.7% over the 2 days preceding Memorial day.
I expect traders to lock in gains today and avoid any risk on what could happen on Monday.
It might confirm the pattern.
Next week will coincide also with 2 weeks post re-opening and I wouldn't be surprise to see a surge in reported cases which might drive the market further down
Over the past 50 years, S&P declines on average 4.7% over the 2 days preceding Memorial day.
I expect traders to lock in gains today and avoid any risk on what could happen on Monday.
It might confirm the pattern.
Next week will coincide also with 2 weeks post re-opening and I wouldn't be surprise to see a surge in reported cases which might drive the market further down
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.