Chart of the Day - Tuesday, June 30th, 2020

Today's Chart of the Day was shared in a note by seasonality expert, Jeff Hirsch (@AlmanacTrader). Jeff points out that the first trading day in July has been quite bullish for the major indices over the past 21-years. The S&P 500 has closed higher  85.7% of the time, for a median gain of 0.54%. Jeff adds, "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 21 years."  In a separate note last week, titled; "Christmas in July: NASDAQ's Mid-Year Rally," Jeff also pointed out that we're in the midst of a seasonally bullish 12-day stretch for the Nasdaq. As we know, anything can happen, and the past doesn't always repeat exactly. But keep these seasonality stats in mind as we kick off the new month and quarter tomorrow.