That's an impressive upslope for a period covering over 50 years.
Thursday, July 11, 2013
Sometimes Overbought Suggests More Strength
When the market begins to get overbought it will often suggest a pullback is likely. When overbought gets powered through then odds will sometimes shift from a pullback to a continuation of that move. The last two nights I have seen some studies suggesting this scenario. The study below is on that I have showed a few times in the past. All stats are updated.
These results appear to suggest a pretty consistent upside edge over the next 1-3 weeks. In fact, below is a profit curve showing just how consistent it has been over the years using a 10-day exit.
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5 comments:
Isn't the SPX above the 50 SMA? Per my chart I don't see this setup. Thanks.
As gmoney says, SPX is trading well above the 50 SMA. Could the study table simply be mis-labeled?
Thanks Guys. It was mis-labled. I have fixed it to read " < 50-day high", NOT " < 50ma".
Rob
Thanks Rob!
These kinds of write-up may very well be mind-numbing. While as i know that evaluation, Most people once-in-a-lifetime.
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