Tuesday, March 17, 2009

When SPY Gaps Up 1% And Closes Negative

What stood out to me about Monday was the fact that the market gapped higher by such a large amount and failed to close positive on the day. Below I look at other times the SPY gapped up 1% and finished negative.



While instances are a bit low, additional downside follow through was often seen over the next 1-3 days.

3 comments:

Anonymous said...

I think this bear market dead cat bounce is over. I think that those who think that this is a significant bear market rally or a 'stealth bull market' beginning (ho ho), are wrong.

A bear market rally is overdue but this is not it.

The fact that the talking numptyheads (good Scottish word) think that this is a rally is evidence that it is not.

Good analysis as always Rob.

AMIT said...

Market ups n down is still going on.

Invitation letter

Anonymous said...

Well looks like I am wrong so far. Still think that the medium term outlook is lower.

Great analysis Rob.