These appear to be quite positive implications. They also confirm the December study where I looked at back to back outside days in SPY.
Tuesday, March 23, 2010
Back To Back Outside Days In QQQQ
On Monday QQQQ posted a higher high and a lower low than Friday. This is often referred to as an “outside day”. Interestingly, Friday was also an outside day. Two outside days in a row is quite rare. This was only the 19th time it’s been done since 2000. Looking at performance following the other 18 times shows some compelling results.