Performance Pattern of SPY and Its Significance to Market Behavior Leads to New Screencast
Summary
Performance Pattern of SPY and Its Significance to Market Behavior Leads to New Screencast In a recent edition of Quantifiable Edges, Rob Hanna discusses the significance of market behavior after SPY closes in the bottom 25% for four days in a row. For those of you who are not familiar with the term SPY, it a ticker symbol for a Standard & Poor’s 500 exchange-traded fund (EFT). According to Hanna, the poor performance, which has been persistently weak in the afternoon, could be a sign that this recent afternoon selling could be setting SPY up to bounce, which is what happens when a stock hits an old high, a moving average, a trend line, or a combination of these. As a result, the stock moves significantly upward. Watch below or click here to learn more, including an explanation of how to find these types of events in just a few lines of code, as Cincom Smalltalk Product Manager, Arden Thomas, explains it in his Quantitative Gems Screencast.
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