There were a number of Quantifinder studies yesterday that looked at SPY and/or SPX making short-term lows, closing down 3+ days in a row, and/or leaving unfilled gaps down. The study below it combined all of these ideas.
The stats suggest a high probability of an almost immediate bounce. In fact, most of what I am seeing now is suggesting a bounce.
Want research like this delivered directly to your inbox on a timely basis? Sign up for the Quantifiable Edges Email List.