Thursday, March 4, 2010

A Two-Day Pattern With Strongly Bullish Implications

Yesterday I explored a pattern where the SPY made a gap up, a move higher and then closed poorly. It showed bullish inclinations. Wednesday’s bar shared a lot of matching characteristics with Tuesday’s. Below I looked at other times there were back to back bars with such similar traits.

Instances are a little low, but results don’t get much more bullish than this when looking out 1-5 days.


Steveo said...

History of the US Financial system in 10 minutes---

I updated the list below from a December post I did and got a bunch of good chime in, if there are important things I missed, please comment and I will add.

For me the little summary below was a great "view from 20,000 feet". Imagine that....less than 200 years ago, the British were rampaging through Washington with troops and burning the White House

Steveo said...


Jason Leavitt said...

Can you define how much of a gap is needed to be considered a gap up and how much does it have to push high? I see many instances where SPY meets your criteria but didn't continue up.

Rob Hanna said...


I think you may be missing the last part of the criteria:

"It also did this yesterday". In other words all the criteria need to be me 2 days in a row.