A few times over the years I have shown studies related to “Turnaround Tuesday”. The bottom line is that when the market has pulled back for multiple days, going into a Tuesday, then Tuesday has seen a bounce begin on a more reliable basis than any other day of the week. That sure didn’t happen yesterday. Historically, when there hasn’t been a close higher on Tuesday after a 3-day pullback, what does that mean for Wednesday and beyond? The test below addresses that question.
Results here have been very strong over a long period. In the past the “Turnaround Tuesday Failure” has just been a temporary setback.
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