When $SPY hasn’t closed below its 5-DMA in 17 sessions !
with $SPY closing above 5-DMA for 17 trading sessions in row , ( yeah, it’s hot streaks galore in the last 2 months , with , $QQQ gains for 11 days in row , longest DJIA Tuesday winning streak , $DIA Jun Opex week after streak , $DIA non 3 day consecutive losing streak etc) , below the look at next 1/2/3/4/5/10/20 trading sessions returns whenever $SPY has closed above for 17 trading session in row
SPY hasn’t closed below its 5-dma in 17 sessions. According to Cobra this has only happened 3 other times since 2000: Jan 01,Jan 04 & Nov 04
Below the trading odds for the next 5 trading sessions ( exit at the close of 1/2/3 trading sessions, don’t have a big trading edge ) for holding on to $SPY longs , when ever $SPY closed above 5-DMA for 17 sessions or more .
- Winners : 6
- Losers : 12
- % Winners : 33%
- Average Change % : -0.69
- Median Change % : -0.42
- Maximum Gain % : 0.74
- Maximum Loss % : -3.05
- Average Gain % if Winner : 0.45
- Average Loss % if Loser : -1.26
- Average Gain % / Average Loss % : 0.36
- Average Absolute Change% : 1.01
- Profit Factor : 0.21
a slightly bearish for the next five trading sessions !
below the table with prior instances of $SPY closing above it’s 5-DMA for 17 or more trading sessions in row .
ps: t+2 , is the gain/loss in percentage terms for a two trading sessions holding period and so on ..
pps: we are sorry for not pointing to the right article at http://www.cobrasmarketview.com , if some one can please quote the discussion , happy to link …
pat yourself for observing a sequence of 17 closings above 5-DMA , never ended there , they went onto post atleast one more close above 5-DMA during the next day/s, it’s the 18 closes above that creates the troubles for bulls over the next 4-5 trading sessions , if history repeats itself !!
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