Historical Implications Of Recent Gap Action & A New 50-day High

One potential positive about Friday’s breakout is that it occurred with SPY posting its 2nd unfilled up gap in a row. The study below examines the implications of this.

Day 1 is a toss-up, but after that results appear extremely consistent and suggest an upside edge.

We also have a Fed Day coming up. Fed Days have generally been positive but there is a lot to consider.  For those who want to review Fed Day edges you may use the Fed Day label on the side of the blog.  For those that would like an even more complete discussion, you can check out The Quantifiable Edges Guide to Fed Days.