Melbourne Cup provides a Bullish Setup for Australian Equities

Probability Trader

www.probabilitytrader.com

Melbourne Cup provides a Bullish Setup for Australian Equities. In Australia the press dub the Melbourne Cup as the race that stops a nation. It is truly one of the social events of the year & the mood of the nation tends to be exceedingly upbeat. It is also a very positive period for Australian stocks. Recording all 5-day returns up to & including the 1st Tuesday of November (Melbourne Cup Day) from 1992 to 2013 (XJO starting date May 1992), we found that the S&P ASX 200 (XJO) had a tendency to produce inordinate gains with an average move of 1.89% & winning form of 18 from 22 (max 11.08%, min -4.67%). Melbourne Cup Day returns are also reasonably positive delivering an average 1-day increase of 29 basis points with a 16 from 22 win rate. Full data analysis & tables can be viewed at (VIEW LINK)


Probability Trader
Quantitative Research Analyst
www.probabilitytrader.com

Probabilitytrader is an independent financial research group that provides objective analysis for traders of Global Stock Market Index CFDs, ETFs, Futures, and Options. Our forward looking analysis covers timeframes as short as 1-day to as long as...

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