The number of new 52-week highs on NYSE came in lower on Friday than it did Wednesday. It’s fairly unusual for the S&P 500 to make a significantly higher high than the day before and see the total number of new 52-week highs contract. Friday’s high was over 3% above the previous day’s high.
To get a decent sample size I loosened the parameters to look at all times the S&P made a higher high by at least 1.5%. The results are below:
To get a decent sample size I loosened the parameters to look at all times the S&P made a higher high by at least 1.5%. The results are below:
Twenty-seven of the thirty-one instances (87%) posted a close lower than the trigger price within 4 days.
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