'Sell Rosh Hashanah, Buy Yom Kippur' Strategy Makes Dramatic Return In 2023
Portfolio Pulse from Joel Elconin
The market adage 'Sell Rosh Hashanah, Buy Yom Kippur' has made a dramatic return in 2023. The strategy, which suggests selling stocks before the Jewish holidays and buying them back after, has yielded positive results in 2021 and 2022. This year, the commencement of Rosh Hashanah coincides with September’s quadruple witch expiration, which could lead to extra volatility. The SPDR S&P 500 ETF Trust (NYSE:SPY) opened at $447.15 on Friday. The S&P 500 index has shown resilience this year despite rapidly rising interest rates and economic challenges.
September 15, 2023 | 3:18 pm
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The SPDR S&P 500 ETF Trust (NYSE:SPY) could experience volatility due to the 'Sell Rosh Hashanah, Buy Yom Kippur' strategy and the coinciding quadruple witch expiration.
The 'Sell Rosh Hashanah, Buy Yom Kippur' strategy has been successful in the past and could impact the SPY ETF. Additionally, the quadruple witch expiration could add to the volatility.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100