Intraday Update (S&P500 Trading in a Tight Range)
By
Rennie on Tuesday, June 2nd, 2009 at 1:24 pm
S&P500 currently trading in a tight 11-point trading range. If the S&P remains range-bound heading into the close, it will trigger a short-term sell signal at today’s close. Historically, it?s a short-term negative sign when an NR10 bar appears after a short-term rally. In the table below I?ve listed each of the last thirty instances in which the S&P posted its narrowest range day of the past ten sessions (NR10) immediately following three consecutive higher closes. Note that in 29 out of 30 cases, or 97% of the time, the S&P posted a subsequently lower close within the next three days. This setup will go into effect at today’s close as long as the SPX range (high-low) remains below 11.17 – it’s currently 10.92.
SPX NR10 Bar Following Three Up Days
03/13/09? Lower SPX close one session later
11/28/08? Lower SPX close one session later
05/30/08? Lower SPX close one session later
04/28/08? Lower SPX close one session later
04/08/08? Lower SPX close one session later
03/26/08? Lower SPX close one session later
12/26/07? Lower SPX close one session later
12/03/07? Lower SPX close one session later
09/14/07? Lower SPX close one session later
07/09/07? Lower SPX close one session later
06/18/07? Lower SPX close two sessions later
05/07/07? Lower SPX close one session later
04/09/07? Lower SPX close two sessions later
03/22/07? Lower SPX close three sessions later
02/02/07? Lower SPX close one session later
01/16/07? Lower SPX close one session later
10/24/06? Lower SPX close three sessions later
09/28/06? Lower SPX close one session later
08/21/06? Lower SPX close two sessions later
03/17/06? Lower SPX close one session later
02/17/06? Lower SPX close one session later
11/25/05? Lower SPX close one session later
09/30/05? Lower SPX close one session later
07/13/05? Lower SPX close three sessions later
05/19/05? Lower SPX close one session later
12/23/04? Lower SPX close one session later
11/08/04? Lower SPX close one session later
11/01/04? No lower close within three sessions
09/14/04? Lower SPX close one session later
07/30/04? Lower SPX close two sessions later
Intraday Update (S&P500 Trading in a Tight Range)
By Rennie on Tuesday, June 2nd, 2009 at 1:24 pmS&P500 currently trading in a tight 11-point trading range. If the S&P remains range-bound heading into the close, it will trigger a short-term sell signal at today’s close. Historically, it?s a short-term negative sign when an NR10 bar appears after a short-term rally. In the table below I?ve listed each of the last thirty instances in which the S&P posted its narrowest range day of the past ten sessions (NR10) immediately following three consecutive higher closes. Note that in 29 out of 30 cases, or 97% of the time, the S&P posted a subsequently lower close within the next three days. This setup will go into effect at today’s close as long as the SPX range (high-low) remains below 11.17 – it’s currently 10.92.
SPX NR10 Bar Following Three Up Days
03/13/09? Lower SPX close one session later
11/28/08? Lower SPX close one session later
05/30/08? Lower SPX close one session later
04/28/08? Lower SPX close one session later
04/08/08? Lower SPX close one session later
03/26/08? Lower SPX close one session later
12/26/07? Lower SPX close one session later
12/03/07? Lower SPX close one session later
09/14/07? Lower SPX close one session later
07/09/07? Lower SPX close one session later
06/18/07? Lower SPX close two sessions later
05/07/07? Lower SPX close one session later
04/09/07? Lower SPX close two sessions later
03/22/07? Lower SPX close three sessions later
02/02/07? Lower SPX close one session later
01/16/07? Lower SPX close one session later
10/24/06? Lower SPX close three sessions later
09/28/06? Lower SPX close one session later
08/21/06? Lower SPX close two sessions later
03/17/06? Lower SPX close one session later
02/17/06? Lower SPX close one session later
11/25/05? Lower SPX close one session later
09/30/05? Lower SPX close one session later
07/13/05? Lower SPX close three sessions later
05/19/05? Lower SPX close one session later
12/23/04? Lower SPX close one session later
11/08/04? Lower SPX close one session later
11/01/04? No lower close within three sessions
09/14/04? Lower SPX close one session later
07/30/04? Lower SPX close two sessions later