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When Black Friday Falls…

The market tends to rebound after a decline on Black Friday.
S&P 500 suffered its worst decline on the day after the Thanksgiving
holiday (AKA Black Friday, not to be confused with the Black Friday gold panic
of September 24, 1869 of which the song is about). But as you can see in the table
here the market has rallied from these Black Friday declines in 15 of the 21 occurrences
since 1949 or 71% of the time for an average gain 2.6%. The worst of the 6
declines in 1973, 2002 and 2018 came in years when the market was already down
at this juncture. If the market can find support here and the new Covid-19
Omicron variant does not prove to be more lethal or contagious or resistant to
the vaccines the market should resume the rally and make a run at new all-time
highs.

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