Friday, February 22, 2013

Relatively Sharp 2-Day Drops From 50-Day Highs

I am starting to see more evidence pointing towards a bounce.  The pullback over the last couple of days, while not large based on historical standards, has been relatively sharp compared to recent action.  Relatively sharp pullbacks from intermediate-term highs have had a tendency to bounce over years.  This is exemplified in the study below.

The stats all suggest an upside edge over the next 1-4 days.

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