The Turnaround Tuesday effect happens from the close of Monday’s trading session until (at least) the close of Tuesday’s trading session. The effect is no myth! Let’s see how this strategy has performed during the Covid-19 mess.
Pretty good, actually. we’ve been trading this strategy, with these trading rules:
Today is either Monday or Tuesday.
Internal Bar Strength (IBS) is 0.15 or below.
If criteria 1 and 2 are fulfilled, go long QQQ at the close.
Exit at close if today’s close is higher than the close of yesterday.
This strategy has performed well since 2000, and the equity chart from 2010 is like below, assuming a 100% allocation of equity to this strategy. The equity curve is shown below.
You can find more info about this trading strategy here:
https://www.quantifiedstrategies.com/monday-tuesday-trade-in-nasdaq-update/
#Nasdaq #TurnaroundTuesday #TradingStrategy #InternalBarStrength #QQQ #StockMarket #EquityCurve