Why stock investors love Tuesdays this yearWednesday 08 May 2013 11.19
Everybody looks forward to weekends, but this year, US stock investors should embrace Tuesdays as well.
That is because the Dow Jones industrial average has risen every Tuesday going back to January 18. For 17 weeks in a row, a streak that includes May 7 when the Dow closed above 15,000 for the first time, the Dow has risen on Tuesday.
Only Wednesday has done better on Wall Street, and that was 45 years ago when the day saw increases for 24 weeks in a row - from June to November - according to Schaeffer's Investment Research.
The Dow has been up a high percentage of days this year. The blue-chip index has climbed 56 out of 87 trading days, or 64% of the time.
If that percentage were to hold for the rest of the year, it would be the best since at least 1900, according to Schaeffer's.
With the Dow rising, and Mondays normally a weak day, it is more likely that stocks will rise on Tuesdays, said Schaeffer's Ryan Detrick.
"We've had Mondays down and just as quickly Tuesdays have snapped right back up," he said.
During Tuesday's recent streak, the average gain for the Dow has been 0.52%. Mondays have seen average losses of 0.22% on the Dow.