sentimenTrader.com Intraday UpdatesAnalysis Over Emotion...Sentiment Analysis for the Stock and Bond Markets(Untitled)- September 23, 2004 As today's price action in the broader market certainly looked like it could have longer-term implications, I took a look at past instances when the S&P put in a similar performance. Specifically, I looked at all times since 1962 when the S&P set a new 21-day high yesterday, but today closed lower than the prior 10 days' lows. The results were interesting... Out of the 42-year period I studied, such a pattern has occurred only six times, the last one being on 1400. ...http://radio.weblogs.com/0129901/2004/09/22.html#a114 (Untitled)- September 7, 2004 I think it's notable that there is a negative correlation between the performance in the S&P the day after Labor Day and its performance the rest of the week. Since 1950, there is evidence that the larger the gain the day after the holiday, the weaker the return for the balance of the week. When we restrict our look to only those times the S&P made a major move the day after the holiday (say a gain or loss of 1% or more), then the correlation becomes quite large at...http://radio.weblogs.com/0129901/2004/09/07.html#a113 |