This volatility continues this morning with a big gap down. The study below shows performance for the day following large gaps that occur after 3 consecutive up days.
These stats do not appear encouraging for the bulls. Below I have listed all instances.
This view isn't any better. It appears there is some potential for another ugly day. I'd use caution buying today.
1 comment:
Thanks for the update, Rob. Your work is always appreciated by this reader. Something I find surprising is that there were only 13 occurrences. I guess I figured this would happen more frequently given all the volatility we've had over the past decade.
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