In this analysis, I want to review S&P500 performance in the week before and after the past 11 years Thanksgivings!
2020: +2.58% gain before Thanksgiving and -1.37% drop after that!
2019: +1.16% gain before Thanksgiving and -2.64% drop after that!
2018: -3.68% drop before Thanksgiving and +4.96% after that.
2017:+0.68% gain followed by another 2% gain
2016: +0.84% gain followed by -1.17% decline!
2015: Neutral..!
2014: +0.4% gain followed by -1.26% drop!
2013: +0.26% gain followed by -1.9% decline!
2012: +3.57% followed by another 2% gain
2011: -4.69% decline followed by 7.62% gain
2010: 0.02% gain followed by -2% decline!
Conclusion: the most probable scenario is Neutral to Bullish in the next 3 days and a correction after the holidays!
In one of my previous analyses, I mentioned market does not like long weekends on September 2nd and we see a correction after Labors day..!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
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