Here is a good chart from Goldman Sachs illustrating daily seasonals in April. It's a sizzling month but the days up-to and including the US April 15 tax-filing deadline are sluggish.
"Tax Day is a seasonal weak period, on the day by day chart, but April remains fairly strong seasonal month. Liquidity gets drained and lower demand for YOLO call options," Goldman writes.
I don't think people wait right up until tax day to sell equities but writing a check to the government and filing taxes doesn't put anyone in a good mood.
The takeaway here is that the picture improve considerably on April 16, which is next Tuesday with an average 1% gain in the remainder of the week.
h/t @newsquawk
