BofA on S&P 500: Post-Thanksgiving dip ahead of a year-end rip
as markets head into the holiday season, emphasizing the tendency for a"post-Thanksgiving dip ahead of a year-end rip," particularly in presidential election years.
This performance is said to be even stronger during presidential election years, with the index climbing 75% of the time and delivering an average return of 0.88% , according to BofA. They add that in presidential election years, this pattern is more pronounced, with the index falling 67% of the time for an average loss of -1.12% .
BofA's analysis underscores the potential for investors to"buy the post-Thanksgiving dip" and ride the traditional year-end rally. The seasonal pattern, coupled with the historical strength during election years, suggests optimism for a bullish close to 2024.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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