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Stocks usually win in the week after tax day

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Stocks were slightly lower Monday, but they could bounce back for a fairly decent gain over the next two weeks if the market follows a common post tax-day move.

div > div.group > p:first-child"> The S&P 500 over the past 20 years has averaged a near 1 percent gain in the week following the federal tax filing deadline and has been higher 75% of the time, according to Bespoke Investment Group. By the second week after April 15, the S&P has been up 1.5% and was higher 75% of the time.

The best performance was in 2001, when the S&P was up 3.8% after one week and nearly 6% after two weeks. Right after April comes the '"sell in May and go away" period for stocks. That's May through October when the market does not do as well as the previous six months. For instance, the Dow was down 0.6 percent on average in the period May 1 through Oct. 31, going back to 1950, according to the Stock Trader's Almanac. In the Nov. 1 to April 30 period over the same years, the Dow gained an average 7.5%.

 

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