Yesterday I showed a study related to Turnaround Tuesdays. I showed that when the market makes 3 down days going in to Tuesday there has been a decided upside edge. Well, that edge certainly did not play out Tuesday. So what happens when Turnaround Tuesday fails to ignite a turnaround? I went back to 1980 for this test to get a good number of instances.
This suggests Tuesday’s failure to turn around simply appears to be a delay rather than a bad omen.