QQQ made both a lower low and a higher high on Wednesday versus the day before. That is often referred to as an “outside day”. Outside days are not terribly unusual. What is unusual is that it happened fort eh 2nd day in a row. In the past the simple fact that range has expanded for the last 2 days has led to a short-term rally. I last showed this in the 8/22/12 blog. Below is an updated results table.
The numbers all appear impressive. I also produced an equity curve that assumed a 1-day holding period.
The persistent upslope is impressive and it serves to confirm the upside edge.