Oct. 28 Kicks Off The Best 5-Day Stretch Of The Year For Stocks

Oct. 28 Kicks Off The Best 5-Day Stretch Of The Year For Stocks
Ths SPDR S&P 500 ETF Trust (NYSE:SPY) traded higher by 0.7% on Thursday, but that should come as no surprise to investors paying close attention to the calendar.

The Numbers: According to Ryan Detrick, Chief Market Strategist for LPL Financial, October 28 has historically been one of the best days of the year for the S&P 500 dating all the way back to 1950. In fact, October 28 was the best day of the year for stocks until the market dropped 3% last year.

The average gain for the S&P 500 on October 28 has been 0.46%, making it the third best date on the calendar for investors. However, Detrick said the fun has historically not stopped on Oct. 28. Oct. 29 (+0.32%), Nov. 2 (+0.32%) and Nov. 3 (+0.41%) also have extremely strong historical returns. In fact, Oct. 28 marks the beginning of the best five-day stretch of the year for the market since 1950.

Related Link: Maximum Pain Trading Theory, Explained

What’s Going On? Third-quarter earnings season may play a role in the historical outperformance in late October and early November, but Detrick has an alternative theory.
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