One interesting aspect of Wednesday’s action is that the SOX (Semiconductor Index) did so well, gaining 1.92%, despite the decline in the Nasdaq. When this has happened in the past, it has often been the SOX that has been “right” – at least with regards to the following day. This can be seen in the study below.
The Nasdaq has risen the next day 71% of the time and the average net gain has been over 0.8%. These are impressive numbers that suggest a 1-day upside edge for the Nasdaq.
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