It’s a simple question… are some days of the week bigger than others? If you’re a short term trader this is important to know because your best money’s going to be made (or lost) at extremes of movement. Extremes force big players to make reactions and you want to be ready when this happens. So does it pay to be more ready on some days than on others? Should you anticipate that particular days are likely to set the weekly watermarks? Check the graphs below for answers.

Methodology: for all instruments in the study I recorded which days set the high and low price for that week. So in the graphs below the X axis is the day of the week and the Y axis is the frequency the high or low was made in the study period. A couple of notes:

  1. I included Sundays in my study, but since not a single one of the instruments in the study period made their high or low of the week on that day I excluded it from the graphs
  2. All times are Pacific, so if your local time is far ahead if that you may need to mentally adjust as you read this. In other words, if you’re in Tokyo you’re 17 hours ahead of my local time, so my Friday is mostly your Saturday.

Period: April 1, 2016 – March 31, 2011 (n = 249 – 251 weeks, depending on instrument)

Instruments in study: ES, NQ, YM, CL, GC, ZN, ZB, ZS, ZW, 6E

ES

NQ

YM

CL

GC

ZN

ZB

ZS

ZW

6E