Why The SPX Reversal May Be A Positive For The Bulls

Before spending much Monday selling off, the SPX managed to make a new intraday all-time high. The new high followed by a poor and downward close triggered the study below, from the Quantifinder. Results are all updated.


Results here seem to suggest an upside edge over the next 1-2 weeks. Though the reversal may have felt frustrating to bulls at the time, it does not appear to be substantial worry for the near term.



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One comment on “Why The SPX Reversal May Be A Positive For The Bulls

  1. Read this yesterday on a SentimenTrader tweet:
    Fun fact: The last time the S&P 500 futures gapped up > 0.5% and
    traded to a multi-year high before reversing to close negative on the
    day was January 3, 2000.

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