July’s first trading day is the third best performing first trading day of all twelve months based upon DJIA points gained with DJIA gaining a cumulative 1,215.30 points since 1998. Over the past 21 years, DJIA’s first trading day of July has produced gains 76.2% of the time with an average gain of 0.33%. S&P 500 has advanced 85.7% of the time (average gain 0.37%). NASDAQ has been slightly weaker at 76.2% (0.27% average gain).
Looking back even further to 1989, S&P 500 has advanced 87.5% of the time (up 28 times in 32 years) with an average gain of 0.49%. DJIA has advanced 26 times in the same 32 years (81.3%) and NASDAQ has risen in 24 of those years (75.0%) with an average advance of 0.33% in all years. No other day of the year exhibits this amount of across-the-board strength which makes a solid case for declaring the first trading day of July the most bullish day of the year over the past 32 years.