History Shows, Buy QQQ And Sell KRE On Monday
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For example, I mentioned above that IYT has a strong tendency to close up on Fridays. As you see in the data below, based on the last 40 weeks, IYT closes up on Friday 69% percent of the time, and 71% of the time when Thursday was an up day.
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The stand out here is that KRE was up on Friday, and based on the last 40 weeks of data, it only has a 21% chance of closing up on Monday. In other words, there is a 69% chance it will be down on Monday.
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So now it gets interesting. TLT, FB, and QQQ all like to close up on Mondays. Additionally, if they have down Wednesday’s, Thursday’s don’t look like a good day to be long J. Don’t worry….If Thursday is a down day in QQQ or SMH then you have great odds, 73% or 81% respectively of Friday being an up day. That could come in handy if you play weekly options with only one day to expiration when you get massive percent changes in weekly option values with very little price changes. The next step would be to do the same quick analysis on the situations where the market had a down prior day, or a gap (up or down) into the current day. I also look at the stats that compare the open of the day to the close. As I said above, it’s not a proven trading system (yet), but it gives us information that’s an edge and fun.
A simple rule of thumb for timing market turning points that could last a few weeks or more is to wait for the market to cross the 10 DMA, and then if it can’t recover its cross within a few days, the trend is often changing.
Bounce or break for TNA and TZA based on 70 - 30 range in chart?
https://www.barchart.com/stocks/quotes/$MMTW/interactive-chart
four, Please explain what you mean by the above post. I am still learning. Thank you.
four 5,087 posts msg #138926 - Ignore four modified
Investigate this pattern for profit? :
Chart > 70 = Short TNA ---ride down to 30-40ish for exit
Chart > 70 = Long TZA --- ride down to 30-40ish for exit
Chart < 30 = Long TNA --- ride up to 60-70ish for exit
Chart < 30 = Short TZA --- ride up to 60-70ish for exit
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