Today, March 17th, 2022, is St. Patrick's Day. Statistically, the stock market had an above average chance of closing green; 80%. For weeks the media has told us that all the down moves in the market were due to Ukraine. I guess that is over now? The talking heads also made correlations to "interest rate fears" being the cause of the correction yet the market basically YEETed off the "more hawkish" Fed yesterday.
The media has no clue. Their job is to sell ads. If you the reader/watcher/listener happen to be informed it is a happy accident.
I am a trader. I need actionable information and repeatable patterns. I find a far more useful tool for trading the markets to be statistics... far better than trying to trade the news.
This graphic is from an article published today on Marketwatch. This kind of thing is my jam. There are a few highlights I find interesting. The market having a very high probability of a green the day before 4th of July makes logical sense. It's also an anecdotal experience I can now quantify with this data. Why August 30th is such a definite outlier I cannot say... but you can bet I will have it marked on my calendar as a unique market holiday.
Bro we cannot see august 30th :D What does it indicate in the column? Thanks for posting anyways! Marking this post and looking at this in future
wardaK
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Could not agree with this statement: "The media has no clue. Their job is to sell ads".But it pisses me off as it somehow influences traders fearing / panicking causing selloff....