Mar

30

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.


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