Gaps Up From A 50-day Low

As I type this morning the futures are up between 1% and 1.5%. Below I show results since 2003 of gaps of different sizes occuring right after a 50-day low.

First are gaps between 1% and 1.5%.

Very low instances but very poor performance.

Now let’s look at instances of gaps above 1.5%.

It appears the bigger the gap the better for the bulls this morning.