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Turnaround Tuesday?

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Congrats Jason! I've got some extra milk if you need it!

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Our buddies over at tradeplotter.com offer the following morning missive:

We come in to the day having closed higher for 7 consecutive days in the S&P and having made 6 consecutive higher lows. This has happened twice this year with each extending the streak to 8 before closing lower. However, we wanted to look into the possibility of a "counter-trend Tuesday" and ran the consecutive up days and / or higher lows where the next day is a Tuesday. The results showed a lower close in more than 70% of the occurrences and always resulted in a trade to both sides of unchanged. Most importantly, the average lows and highs were very similar (+.5% to -.6%). Today should be highly predictable and follow a similar pattern.

Also, a hearty Minyanville congrats to our very own Jason Goepert and his family on the birth of a beautiful 5lb 6oz baby girl (both Mom and Baby are doing well). Mini-Minyans of the world unite!




No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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