On Thursday SPY put in a big reversal after hitting a 20-day intraday low. Still, it only closed up a mere $0.03, barely qualifying as an “up day”. In the subscriber letter I examined other instances where this kind of reversal has taken place. I looked back to the inception of SPY in 1993. Below are the results.

A bit low on instances, but the early indications here are very impressive. Traders may want to keep this in mind over the next couple of weeks.

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