Home Trading strategies Gap Down And Even More Downside From The Open in SPY

Gap Down And Even More Downside From The Open in SPY

Today SPY opened down about 0.8%. From then it has fallen even more, and in time of writing is down 1.5% since the open. A quite tough day for the longs.

Looking at what has happened on similar days since January 2010 (open more than 0.7% down and falling more than 1% from the open) before the last hour of trading, we get the following results: 5 fills, 5 winners and an average of 0.7% gain in the last hour of trading.

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