The Monday Morning Playbook: Week of March 17, 2025

Good morning,

There’s an old saying on Wall Street that “The market never bottoms on a Friday.”

Boy, has that felt true recently.

The last two Monday Morning Playbooks have highlighted bullish reversals on Friday, but thankfully stressed the need for confirmation on that Monday.

And those two attempts have been spectacular failures with the S&P 500 down 2.7% last Monday and 1.8% the Monday before that.

So you’re right to feel a little like Charlie Brown with the football when it comes to the most recent last day rally.

However, there are two important reasons why Friday’s rally is more likely to stick as a short-term low.