For the session on Monday, March 29 I published a Market Snapshot ( see Setups, Probabilities and Odds ) showing a list of potential setups based on the SPY's current open|high|low|close|first hour|last hour quotes and the then current number of cons
I'm just playing around with / testing a mechanism on how to quantify the next session's probabilities and odds for a higher / lower close on the then following session not only based on and triggered by a single setup on the previous session's close
This is a follow-up on my previous posting O|H|L|C Probability and Profitability (Part I) looking for historical probabilities and odds with respect to favorable setups on the long side of the market based on daily open|high|low|close prices of the
Although the efficient-market hypothesis claims that prices of financial assets always exhibit random walk behavior and thus can not be predicted with consistency, history shows that there are a couple of favorable setups based on daily open|high|low
With Friday's session, the market showed a level of bullishness rarely observed over the course of the last 20 years: The SPY (S&P 500 SPDR ETF) closed higher on the 11th consecutive session (now 4 occurrences since 01/01/1990), The SPY hasn'
On Wednesday's session, and with respect to the SPY (SPDR S&P 500 ETF), Wilder's Relative Strength Index (RSI) for a 2-day period closed above 95 the sixth day in a row, and above 99 on the fourth consecutive session. With respect to the latter,
First of all it seems that the bullish setup triggered on Friday, February 19, 2010 (five consecutive sessions with an RSI-High/Low (2-day) closing above 95, see my posting Modified RSI(2), Buying Power and Intermediate-Term Outlook) is currently pla