While instances are a bit low, additional downside follow through was often seen over the next 1-3 days.
Tuesday, March 17, 2009
When SPY Gaps Up 1% And Closes Negative
What stood out to me about Monday was the fact that the market gapped higher by such a large amount and failed to close positive on the day. Below I look at other times the SPY gapped up 1% and finished negative.
While instances are a bit low, additional downside follow through was often seen over the next 1-3 days.
While instances are a bit low, additional downside follow through was often seen over the next 1-3 days.
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3 comments:
I think this bear market dead cat bounce is over. I think that those who think that this is a significant bear market rally or a 'stealth bull market' beginning (ho ho), are wrong.
A bear market rally is overdue but this is not it.
The fact that the talking numptyheads (good Scottish word) think that this is a rally is evidence that it is not.
Good analysis as always Rob.
Market ups n down is still going on.
Invitation letter
Well looks like I am wrong so far. Still think that the medium term outlook is lower.
Great analysis Rob.
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