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.
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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