Post-Labor Day blues likely compounded by weak first trading day of September

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S&P 500 has been up 18 of the last 30 years on the first trading day of September, but this trend appears to be fading as the S&P 500 has been down ten of the last seventeen first trading days. DJIA’s first trading day performance has experienced a similar trend reversal, also down ten times since 2008. NASDAQ has been slightly better, but still leans bearish, down nine and up eight. Proximity to the three-day Labor Day holiday weekend can dampen trading activity, which could be a factor this year with the first day falling on Tuesday. This was certainly the case last year with DJIA, S&P 500, and NASDAQ all dropping over 1.5%.

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