Monday Morning Mojo
Yeah, but it only lasts for five minutes!
For three out of the past four weeks, we've seen the major indexes spike around 10:30am EST on the first trading day of the week. Whatever the reason, it has been a recurring pattern.
The interesting thing is that the spike has come about 5 minutes later each time. On 05/31, we saw it happen at about 10:25; on 06/13, it came in at 10:30; today the spike arrived at 10:35.
I'm not sure that this is a "bankable" pattern - it skipped a week three weeks ago, and one has to be quite anticipatory in order to profit from it. But it seems unusual that we're seeing such a thing at very similar times, on high volume, on the same day of the week. For very short-term traders, it's at least something to watch going forward.
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