Aug

30

In 1970 Frank Cross and I wrote about the Friday down Monday down effect. (published in Financial Analyst Journal 1973 Vol 29 No 6 page 67 [3 page PDF ]). Subsequently it transpired on the 1987 crash, the 1997 and 2008 crash. It would be interesting to see an update on it. Looking back to 1996 one sees one decline of 50 points or more on a Friday on 4 14 2000 with the market going up 44 points 1 day later, 85 big points two days later from an adjusted 1438 on the Friday with a 122 point rise 1 week later. That was before last Friday. Similar results for 20 and 30 point declines.


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