Ever wonder what day is best to trade? Many traders like to jump in on Monday after spending the weekend researching new stocks. Others tend to stay away from Fridays since holding over the weekend could be risky. Well, take a look at the chart directly below. 

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This chart represents the historical annualized percent change in price percent for the S&P for a sixteen year period (1962-1978). While this data seems rather dated and insignificant, I decided to compile my own data to see if I could draw any noteworthy comparisons. Amazingly, the standout day appears to be Wednesday even after all these years. See the two charts below. One represents the NYSE % cummulative gain or loss for each day of the week from May 2007 to February 2008.  The other chart  is for the NASDAQ during the same time period.

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Although the most recent Wednesdays have not been that impressive, the historical evidence is overwhelming. So, what is the best trading day?  I’ll go with Tuesday…just before the close!