of course a buy program would come in and save the day, however if by any chance between now and 4pm we see a surge at the close expect a strong rally on Tuesday. Thats something I would be worried about if your short going into this 3 day weekend. We will see. 29 mins left.
In the last 2 years, the day after Christmas are big downs. Basically, people need to pay for the gifts. Housing refi is no longer the ATM...
The ATM machine is broken, the consumer tapped out, possible recession after 1.5 Trillion worth of ARMS reset in 2007.
S&P 500 daily return day after Christmas... 1990 0.29% 1991 1.38% 1992 -0.14% 1993 0.67% 1994 0.57% 1995 0.38% 1996 0.64% 1997 0.40% 1998 -0.06% 1999 -0.09% 2000 0.71% 2001 0.41% 2002 -0.31% 2003 0.17% 2004 -0.43% 2005 -0.96% last 2 yrs negative...sure but up 10 in the last 16 yrs... overall negative return day after Christmas is consistent with randomness.
interesting close, I really thought it would rally somewhat into the close given how strong these markets have been. This was a nice close for the bears. I think the markets could gain back some losses early next week, however going into the new year who knows whats in store. Im sure the "January Effect" will be mentioned all next week on cnbc.