I’ve seen a few bullish studies in the last few days, but the study below is one with potentially bearish implications for Friday. It is one I have shown a number of times in the past. It shows that when SPY closes strong (in the top 10% of its range) but still only manages a small gain on the day, that the next day has exhibited a downside tendency. Stats are updated..

Good luck trading today, and have a great weekend!

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