A shocking stat: more than 100% of the S&P’s gains since 1993 have actually come outside of regular trading hours.
Using the S&P 500 tracking ETF (SPY) that began trading in 1993, we can see how much of the S&P’s gains over the years have come outside of regular trading hours versus during regular trading hours. Since 1993, had you only invested in the After Hours strategy by buying the close and selling the next open, you’d be sitting on a solid gain of 722%. Had you done the opposite, however, and only invested in the Regular Trading strategy by buying at the open and selling at the close, you’d actually be down 8.5%. That’s right — if you only owned the US stock market during regular trading hours going back to 1993, you’d be sitting on a decline right now in September 2020. This stat shows that more than 100% of the S&P’s gains since 1993 have actually come outside of regular trading hours. For anyone trying to make a living doing intraday trading, it’s certainly a tough game! (source: Bespoke)