After Thursday’s move to a new high in SPY, Friday put in an inside day. With Monday closing at another new high the study below triggered. It was identified by the Quantifinder and included in last night’s subscriber letter.

Stats here suggest a bearish inclination following action similar to the last 3 days. One day later the market has declined 16 of 19 times. And on a net basis losses have continued to pile up throughout the week.

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