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.
Tuesday, January 31, 2012
The Odds That Turnaround Tuesday Lives Up To Its' Name...
I’ve shown before that of all days Tuesday has historically shown the highest propensity to halt a short-term pullback. The study below is one from the larger Turnaround Tuesday study. All stats 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.
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.
Hi, I really appreciate your work. I have a question though: What do you mean exactly by "closes down 3 days in a raw" Do you mean Close < Close of previous day and Close < Open, 3 days in a raw? or just Close < Close of previous day? or maybe Close < then previous day Low? My performance dont quite match yours, so I think this might be a problem. Thank you very much
ReplyDeleteI mean SPX has closed below the close of the previous day for 3 days in a row. (But not 4 days. Exactly 3.)
ReplyDeleteBest,
Rob