A Look At How Fridays Create The Most Reliable Bounces

By Rob Hanna

Friday is generally not terribly reliable in being a day where the market bounces from a low. It is one of the least popular days for this to occur (along with Wednesday). But a potential positive about a Friday bounce is that when they do occur, they tend to be the most reliable moving forward. The below tables look at performance following a bounce from a 50-day low. The 1st table looks at performance 1 day later, and the 2nd table looks at performance 5 days later.

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2018-10-14-2

In both cases we see that Friday is the day of the week that that shows the strongest odds moving forward. This is true whether you are looking at Net Profits, % Profitable, Win/Loss Ratio, Profit Factor, or Avg Trade. While Tuesday is the most likely day to see a bounce occur, Friday is the day where that bounce is most likely to stick. We’ll see if the bounce that started this past Friday can stick this week.

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