Why the SPX Reversal May be Positive for the Bulls

By Rob Hanna

Before spending much of Monday selling off, the SPX managed to make a new intraday all-time high. The new high followed by a poor and downward close triggered the study below, from the Quantifinder. Results are all updated.


Results here seem to suggest an upside edge over the next 1-2 weeks. Though the reversal may have felt frustrating to bulls at the time, it does not appear to be substantial worry for the near term.

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