We had a 10-day closing high on Fri inwards the S&P 500 Index (SPY) followed past times a 10-day closing depression on Monday. It turns out that this is an odd reversal. Since 1990 (N = 4895 trading days), in that location bring solely been half-dozen occasions inwards which this has occurred.
While half-dozen occasions is hardly a sample from which nosotros tin laid a robust analysis, it's worth noting that the marketplace was downwards after on a 5 as well as 10 twenty-four hours footing on 4 of the half-dozen occasions past times averages of -.22% as well as -.76% respectively.
Although in that location are oftentimes occasions when buying stocks next weakness is indicated, in that location is goose egg to propose a positive border next a reversal such every bit nosotros saw on Monday. This fits amongst my before analysis of what happens next potent downside momentum days.
.
No comments:
Post a Comment