Mondays 2% Gap Down

I've shown before that 2%+ gaps down almost always bounce at some point in the next few days.  The last time I reviewed this can be found here:

http://quantifiableedges.blogspot.com/2011/03/2-gaps-down-other-disasters.html

This morning I added a few filters and looked at just what might be expected on the day of the gap.  This first study shows what has happened when the 2% gap down occured after a 100-day low.

Low instances but a possbile upside tendency.  But next is the bad news.  The study below looks at 2% gaps down on Mondays.

Tough call this morning.  I think we should see a bounce in the next few days, but it may not be immediate.