Tax refunds to boost stock market?

Alex Slobodkin | Getty Images

Tax Day is here and many of you by now are counting your refund. So what are you going to do with that extra cash?

It may pay to put it into the stock market and ride the inflows from other upstanding tax-paying citizens. History shows stocks tend to get a boost in the week following Tax Day, especially the favorite technology stocks of the retail investor.

With the average refund up almost 1 percent to $2,815, according to the IRS, the positive market effect may be even more pronounced this year.