Large Gap-n-Go Formations to New Highs Revisited

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.