Even though S&P 500 has been up in 17 of the last 28
years on the first trading day of September, this trend appears to be fading as
the S&P 500 has been down nine of the last fifteen first trading days.
DJIA’s first trading day performance has experienced a similar trend reversal, also
down nine times since 2008. NASDAQ has been modestly stronger recently, but is
still mixed, up eight and down seven. 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 Friday.