Australian Banks - 12 month closing high in March is historically Bullish for April performance

Australian Banks - 12 month closing high in March is historically Bullish for April performance. Former Baltimore Orioles manager & Baseball Hall of Famer, Earl Weaver, once remarked that momentum is the next day's starting pitcher. The same may be said about financial markets. We note since 1960, when the Australian Bank Index (J4010) closed the calendar month of March at a 12-month closing high, the performance of this sector continued during April delivering well above average returns. Post a 12-month high for March, April was higher on 9 from 11 occasions, providing an average return of 3.78%. The post condition return skew generously favours the upside with six April returns greater than 3% & only one return worse than -3%. Full data analysis & tables can be viewed at (VIEW LINK)