77% of the Time the SPY has Been Lower 6 Days After This Setup

Action in SPY the last couple of days has been interesting as it has left large unfilled gaps in both directions. The Quantifinder identified the study below. It looks at other instances where you had a 20-day closing high, then an unfilled gap down, and then an unfilled gap up. All results are updated.

These results seem to suggest a moderate downside edge over the next 6 days.