yesterday's research has been paying off nicely, equally nosotros turned unopen to inwards afternoon trade as well as convey seen higher prices for stocks overnight. I noticed that nosotros made a 20-day cost depression yesterday, amongst the number of NYSE, NASDAQ, as well as ASE issues making fresh 20-day lows exceeding 2000. When this has been the example since September, 2002 (when I showtime began archiving the 20-day highs as well as lows), the S&P 500 Index (SPY) has averaged a subsequent 20-day gain of .90% (42 up, 29 down). That compares amongst an average .14% 20-day gain for the residual of the sample (980 up, 623 down). It's ane to a greater extent than reminder that pregnant weakness inwards the by does non necessarily imply farther weakness going forward.
Between trader meetings, I'll endure updating the weblog as well as Twitter amongst marketplace position observations. More to come!
9:38 AM CT - After peeking inwards a higher house yesterday's high, the S&P 500 Index (ES) has moved dorsum into the previous day's hit toward the day's pivot. With a mixed TICK as well as mixed book at offer/bid inwards Market Delta, it's shaping upward equally a hit merchandise hence far.
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