Friday, July 10, 2009

Another Example of a Weak Bounce

My studies indicated a bounce was likely yesterday. It arrived, but unfortunately it was another example of a weak bounce. Below is a study that looks at SPY bounces from lows that lack volume.

(click to enlarge)

The only instance that did NOT post a lower close within 3 days was just 2 weeks ago – on 6/23/09.

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