Monday was an outside day for the S&P 500 futures, and the close was lower than the low of the previous day. Tuesday was another outside day, this time with the close higher than the high of the previous day. This sequence has occurred only twice in the past 6 years. The changes on the third days in those instances were -1.7% and +0.3%.

Tuesday was the 47th outside day on which the close was higher than the high of the previous day in the past 6 years. After the previous 46 instances, the next day was up 24 times and down 22 times, t=-0.12.





Speak your mind

1 Comment so far

  1. Andre Wallin on March 30, 2011 10:51 am

    days like yesterday make me think something sinister is going on, but maybe it’s just because I lost. 1305-1315 not trading well for two days sell off after the close and up up up right through this range without a pullback. see commercials are very long and think that I have been cheated. At least I wasn’t stubborn about it…


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