With the recent marketplace rally, nosotros bring seen iv consecutive days inwards the S&P 500 Index (SPY) inwards which nosotros bring had higher highs, higher lows, too higher closes. That is consistent strength.
Going dorsum to 2000, nosotros bring had 39 such four-day periods of consistent strength. Interestingly, the side past times side twenty-four hr menstruum inwards SPY has averaged a compass of .21% (22 up, 17 down). By contrast, the average side past times side twenty-four hr menstruum modify inwards SPY for the residual of the sample has been -.01% (1174 up, 1177 down). While this is non a barnstorming border to the upside, it sure enough suggests that, over this time, at that topographic point has been no bearish border to selling into consistent strength.
I've noticed amidst traders a style to endeavour to sell this rising market. Sometimes it's because the traders are locked into a negative longer-term marketplace view; sometimes it's because they've missed the upside too straight off are looking to brand upward for it past times calling the side past times side turn. I detect historical analyses such every bit the inwards a higher house a prissy mental caution lite that allows me to cheque my assumptions too expectations.
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