September Trend Appears to Be Fading
Although the first trading day of September has been up in 14 of the last 25 years, this trend appears to be fading as the S&P 500(NYSEARCA:SPY) has been down nine of the last twelve first trading days.
DJIA’s (NYSEARCA:DIA) first-trading-day performance has experienced a similar diminishing trend, down eight of the last twelve. NASDAQ(NYSEARCA:QQQ) has been modestly stronger recently, but is still mixed, up six and down six. Proximity to the three-day Labor Day holiday weekend can dampen trading activity, but this will likely not be much of a factor this year with the first falling on Tuesday, well before the holiday.