Instances are a bit low, but 17 of 19 occurences had at least one close below the trigger day close within the next 4 days. This study seems to suggest decent chance of some downside over the next few days.
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1 comment:
NICE CALL, ROB! (cringe)
Indeed, as I write SPX is down ca. 2.5%. Where to cover and take profits..?
I'm frankly terrified to be aggressively short a market that seems to want to break out the way this one does.
Could this be the catalyst? A trip to the lower band of recent trading ranges, to set up momentum for the breakout which two weeks ago seemed such a "slam dunk"-- and now is becoming universally despaired of?
A contrarian thought...
Daniel
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