Gap & Go and the Columbus Day Holiday

S&P futures are going for another ‘Gap & Go’ price pattern – see Wednesday evening’s column for details – creating a mixed outlook for the short-term. Also, with Columbus Day on Monday, it’s noteworthy that this holiday (for many markets) has generally been a bullish one for the Nasdaq. The performance of the Nasdaq100 on each Columbus Day over the last twenty years is outlined in the table below. Note that only one case led to any significant weakness…

NDX on Columbus Day
10/12/09 NDX ???
10/13/08 NDX +12.6%
10/08/07 NDX +0.6%
10/09/06 NDX +0.4%
10/10/05 NDX -0.6%
10/11/04 NDX +0.5%
10/13/03 NDX +0.7%
10/14/02 NDX +1.1%
10/08/01 NDX +0.6%
10/09/00 NDX +0.2%
10/11/99 NDX +0.9%
10/12/98 NDX +3.8%
10/13/97 NDX +0.2%
10/14/96 NDX +0.8%
10/09/95 NDX -3.6% (*)
10/10/94 NDX +1.4%
10/11/93 NDX -0.2%
10/12/92 NDX +0.8%
10/14/91 NDX +2.0%
10/08/90 NDX +0.7%
10/09/89 NDX +1.0%

Categories : Archived Intraday Commentary, Intraday Commentary

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