Equal Weight S&P500 Going for Six in a Row

Equal Weight S&P500 up 0.2% heading into the final 30 minutes. A higher close would mark the sixth consecutive up day, a pattern that has typically led to a subsequently lower close within the next few sessions. Each of the last thirty occurrences is listed in the table below. Note that the index posted a subsequently lower close within three days in twenty-seven cases, or 90% of the time, significantly above the 66% at-any-time odds for a lower close within three days in the same time frame…

Equal Weight S&P Closes Up Six Days in a Row
10/12/09… Lower SPXEW close one session later
04/07/08… Lower SPXEW close one session later
06/04/07… Lower SPXEW close one session later
04/05/07… Lower SPXEW close three sessions later
01/16/07… Lower SPXEW close one session later
09/05/06… Lower SPXEW close one session later
03/17/06… Lower SPXEW close one session later
01/10/06… Lower SPXEW close two sessions later
11/23/05… Lower SPXEW close two sessions later
09/29/05… Lower SPXEW close two sessions later
07/14/05… Lower SPXEW close two sessions later
05/23/05… Lower SPXEW close one session later
12/15/04… Lower SPXEW close one session later
11/01/04… Lower SPXEW close one session later
05/28/04… Lower SPXEW close three sessions later
04/05/04… Lower SPXEW close one session later
12/01/03… Lower SPXEW close one session later
11/03/03… Lower SPXEW close one session later
09/03/03… Lower SPXEW close two sessions later
11/07/01… Lower SPXEW close one session later
05/21/01… Lower SPXEW close one session later
05/02/01… Lower SPXEW close one session later
09/07/00… No lower close within three sessions
08/07/00… Lower SPXEW close three sessions later
07/02/99… Lower SPXEW close one session later
11/19/98… No lower close within three sessions
11/05/98… Lower SPXEW close two sessions later
10/21/98… Lower SPXEW close two sessions later
06/12/97… No lower close within three sessions
05/05/97… Lower SPXEW close one session later

RSP is an exchange traded fund that tracks the performance of the Equal Weight index.

Categories : Archived Intraday Commentary, Intraday Commentary

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