Market Insider

Traders fear Fed uncertainty more than Friday 13th

Traders on the floor of the New York Stock Exchange.
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While Friday the 13th can often be lucky for stocks, traders are watching to see if dip buyers will step in to provide some support for the market after three days of selling.

The market has been squishy, with bond yields rising and gold sinking amid speculation the Federal Reserve could move to cut back its bond-buying program, as early as next week's policy meeting. While still not a consensus view, the idea that better economic data could spur the Fed sooner rather than later has gained momentum.

(Read more: Will Friday the 13th bring bad luck to the market?)

The S&P 500 lost 1.8 percent in the past three sessions, and closed Thursday at 1775, off six points. As for Friday the 13th, S&P/Capital IQ's Howard Silverblatt says the S&P 500 has gone higher 56.6 percent of the time on the supposedly jinxed date, but when it falls in December, the index has been higher two thirds of the time.