SPY Leaves an Unfilled Gap Down on Thursday and Friday

Both Thursday and Friday saw SPY leave an unfilled gap down.


By Rob Hanna

That is fairly unusual. In the study below I examined other times it has occurred since 2002 while SPY(NYSEARCA:SPY) was below the 200-day moving average.

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Every instance except one was higher five days later. While instances are a little low, the numbers are compelling and suggest an upside edge over the next week.