Comparatively Large Drops From 50-day Highs

While the SPX selloff yesterday was not terribly large (0.4%), it probably seemed it to most traders since we have not seen an SPX decline that large in a few weeks.  The drop from a 50-day high triggered the study below.

While the size of the move over the next few days is not overwhelming, the consistency is impressive. The stats certainly seem to suggest an upside edge.