A Moon Over Wall Street…

March 2007
Journal of Financial Planning;Mar2007, Vol. 20 Issue 3, p11
Academic Journal
The article discusses two academic studies conducted by professors at the University of Michigan business school that reveals that the United States stock market averages its best returns during the period of seven days before and after a new moon, while stocks averaged their lowest during a full moon. The study's findings were based on all major United States stock indexes over the course of a century. In addition, further research suggests that the effect is worldwide, with a link showing between the moon and all major stock markets.


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