Friday saw the SPY gap up strongly and then never look back. The gap never filled and it closed well above the open. In the 10/15/09 blog I looked at these type of situations when the market also made a 50-day high. I’ve updated that study below.
Instances are low here but the results are strong enough for me to take them under consideration.
Edit: This post appears not to have made it out at the desired time (almost a day late to my RSS feed). I am using a new blogspot editor and will look into what may have caused this. Apologies.