In “The Quantifiable Edges Guide to Fed Days” I discussed Fed Days that close at new highs. The basic finding was that when the market closed at a short-term high on a Fed Day, then it was likely to pull back over the next few days. But when it closed at a long-term high, then the rally was likely to continue. Below is a study from the guide that I updated for last night’s Subscriber Letter.
This suggests further upside is likely over the next 1-2 weeks. The consistency referenced in the note at the bottom of the table is impressive and worth noting as well.
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