Tuesday, October 26, 2010

Odds for the Dow on 10/27/2010

Today again fell in the range that was expected -- a positive close in the 0 to 0.50% range. Also correct was the interpretation that today could have a fair amount of weakness at some point, because 60% of cases had a low in the 0 to -0.5% range.

Tomorrow's data paints a more negative picture. In fact, I want to highlight the fact that there is a 14% chance of a negative high tomorrow, meaning a gap down that never fills. That is a fairly high number for that metric. Besides that, the odds themselves are also tilted negative.

Direction: 4/4
Range: 4/4
Significant High/Low: no instances

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