Based on other gap studies we have seen, the negative results are no surprise. Traders may want to be careful of chasing long entries at the open.
Tuesday, September 27, 2011
Large Gaps After Large Up Days
SPY is gapping up large this morning after rising 2.3% yesterday. Below is a study showing how SPY has performed intraday under similar circumstances over the last 8 years.
Based on other gap studies we have seen, the negative results are no surprise. Traders may want to be careful of chasing long entries at the open.
Based on other gap studies we have seen, the negative results are no surprise. Traders may want to be careful of chasing long entries at the open.
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1 comment:
I agree. This rally feels to me to be about out of steam right here. I'm looking for lower on Wednesday.
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