Jul
14

First Down Day in Seven Sessions

By on Wednesday, July 14th, 2010 at 3:10 pm

The S&P500 is in the process of posting its first down day in seven sessions. Below are each of the last thirty instances in which the SPX first closed lower after a series of five or more up days. Note the definitive tendency for the uptrend to resume the following session. In 23 out of the last 30 occurrences, or 77% of the time the S&P closed higher the next day, significantly above the 55% random chance for a higher SPX close one day later in the same time frame…

First down day after a series of five or more up days
04/16/10… S&P500 +0.5% next day
03/08/10… S&P500 +0.2% next day
01/12/10… S&P500 +0.8% next day
12/29/09… S&P500 +0.0% next day
11/10/09… S&P500 +0.5% next day
10/13/09… S&P500 +1.8% next day
09/11/09… S&P500 +0.6% next day
12/01/08… S&P500 +4.0% next day
07/10/07… S&P500 +0.6% next day
06/05/07… S&P500 -0.9% next day
05/08/07… S&P500 +0.3% next day
04/19/07… S&P500 +0.9% next day
04/11/07… S&P500 +0.6% next day
11/20/06… S&P500 +0.2% next day
10/27/06… S&P500 +0.0% next day
08/21/06… S&P500 +0.1% next day
03/20/06… S&P500 -0.6% next day
01/10/06… S&P500 +0.4% next day
11/28/05… S&P500 +0.0% next day
10/03/05… S&P500 -1.0% next day
07/18/05… S&P500 +0.7% next day
06/20/05… S&P500 -0.2% next day
02/17/05… S&P500 +0.1% next day
11/08/04… S&P500 -0.1% next day
08/03/04… S&P500 -0.1% next day
05/28/04… S&P500 +0.1% next day
10/08/03… S&P500 +0.5% next day
09/05/03… S&P500 +1.0% next day
08/13/03… S&P500 +0.7% next day
06/06/03… S&P500 -1.2% next day

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Comments, data and trading signals herein are for informational purposes only and are not recommendations to buy or sell. All information presented is believed to be accurate but is not guaranteed.