7 Up and 8 Down

The statistics of “Santa Rally” and “Sell in May and go away” are well known. But have you heard of “7 Up and 8 Down“? Likely, you have not! It means to buy in July and sell in August.
Please take a look at the Monthly Chart of STI. Green candle signifies up month,while red candle signifies down month. 
For months of July

In the 7 years of 2009 to 2017, the STI went up in the months of July 8 times, and went down 1 time (2015).

For the months of August

In the 7 years of 2009 to 2016, the STI went down all 8 times in the months of August. And as of 16 Aug 2017 today, it certainly looks like following the same pattern again!

Direction of months of July and August. 

Amazing? Check it out yourself in your own charts! Coincidence?

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