A Turnaround Tuesday Setup

I've discussed many times in the past that Tuesdays have a well-earned reputation for being a day when the market will often halt a decline.  The study below is one from the larger Turnaround Tuesday study published in the 9/25/12 blog. All statistics are updated.

As you can see the market has strongly favored a quick move higher.  And when that move hasn't happened on Tuesday it has often happened in the next few days.