Instances are a little low, but results don’t get much more bullish than this when looking out 1-5 days.
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.
Instances are a little low, but results don’t get much more bullish than this when looking out 1-5 days.
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3 comments:
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 comments....so 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
http://oahutrading.blogspot.com/2009/12/10-minute-chronology-of-important-us.html
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.
Jason,
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.
Best,
Rob
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