First Trading Day of March Has Modestly Bullish History
When comparing first trading day of the month performance to all other months, March has only a modestly bullish history.
Examining the last 21 years of data reveals DJIA (NYSEARCA:DIA) and S&P 500 (NYSEARCA:SPY) have the best record, advancing 66.7% of the time with average gains of 0.15% and 0.20%, respectively. NASDAQ(NYSEARCA:QQQ) and Russell 2000 (NYSEARCA:IWM)have posted better average gains, but with fewer winning days. After a rough patch from 2007 through 2011, March’s first trading day does appear to be improving. DJIA, S&P 500, NASDAQ and Russell 2000 have all recorded gains in five of the last six years.