* As you lot tin come across from the nautical chart above, Fri saw a huge expansion of stocks closing below their lower Bollinger Bands (raw information from Stock Charts). Since early on May of 2014, when I starting fourth dimension began collecting these data, those large expansions accept by together with large led to farther toll weakness inwards the close term. Specifically, at that topographic point accept been 22 occasions inwards which we’ve had 200 or to a greater extent than NYSE stocks closing below their bands. Over the adjacent iii trading sessions, SPY has averaged a loss of -.95% (6 up, xvi down). That is notable weakness, considering the full general menses has seen rise prices. Indeed, all 22 occasions posted a lower daily unopen inwards SPY over the adjacent iii trading sessions.
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* Red flags for investment strategies together with other transcend reads from Abnormal Returns.
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Have a dandy produce down to the week!