One interesting aspect of Tuesday’s action is the SPY gapped up above Monday’s close, and never filled that gap. This made the 2nd day in a row with an unfilled up gap. The study below is one I’ve shown before in the subscriber letter. It examined other times SPY left 2 unfilled up gaps and closed at a 50-day high. All stats are updated.
The size of the follow-through isn’t terribly large, but it has been very consistent that some follow through was achieved in the next few days.
Related Quantifiable Edges Studies
- Two Unfilled SPY Up Gaps and a 50-Day High: 2019 Updated Study
- Two Unfilled Up Gaps at a 50-Day High: SPY Follow-Through Study
- Two Unfilled Gaps Up at a 50-Day High: Short-Term SPY Edge
- Breakaway Gaps: Unfilled SPY Gap on a 50-Day High Breakout
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