Inside Week Forming

With today’s selloff, the S&P looks like it’ll post an ‘inside down week’ (as long as it holds SPX 992). That’s typically a bullish development for the following week. The last thirty are listed in the table below…

Weekly SPX Forms Inside Bar, Closes Down
12/05/08… S&P500 +0.4% next week
09/26/08… S&P500 -9.4% next week
05/09/08… S&P500 +2.7% next week
06/22/07… S&P500 +0.1% next week
03/30/07… S&P500 +1.6% next week
06/23/06… S&P500 +2.1% next week
04/28/06… S&P500 +1.2% next week
12/02/05… S&P500 -0.5% next week
09/16/05… S&P500 -1.8% next week
12/10/04… S&P500 +0.5% next week
03/28/03… S&P500 +1.8% next week
05/24/02… S&P500 -1.5% next week
05/11/01… S&P500 +3.7% next week
03/09/01… S&P500 -6.7% next week
06/09/00… S&P500 +0.5% next week
03/31/00… S&P500 +1.2% next week
01/21/00… S&P500 -5.6% next week
12/10/99… S&P500 +0.3% next week
11/26/99… S&P500 +1.2% next week
01/22/99… S&P500 +4.4% next week
11/13/98… S&P500 +3.4% next week
12/26/97… S&P500 +4.1% next week
11/28/97… S&P500 +3.0% next week
10/24/97… S&P500 -2.9% next week
09/12/97… S&P500 +2.9% next week
08/29/97… S&P500 +3.3% next week
07/26/96… S&P500 +4.2% next week
06/14/96… S&P500 +0.2% next week
03/29/96… S&P500 +1.6% next week
10/06/95… S&P500 +0.4% next week

Note that an inside down week was followed by an up week 77% of the time, compared with at-any-time odds of 56% for a higher weekly close.

Categories : Archived Intraday Commentary, Intraday Commentary

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