SPY Weekly Close Above 50-Period Upper Bollinger Band, from Steve Ellison

2020-01-05 · Gary Phillips, Steve Ellison
Original source

SPY weekly close above 50-period upper Bollinger band is not bullish, but not bearish either for the following week.

Average                                   0.0%

Standard deviation                    1.6%

N                                             153

t                                             -1.39

Average of all weeks since 1993   0.2%

Looking ahead 50 weeks, results are consistent with randomness with only 17 non-overlapping occurrences since 1993.

Average                                   10.7%

Standard deviation                    11.8%

N                                              17

t                                               0.03

Average of all 50-week periods since 1993  10.7%

Gary Phillips writes:

One thing about shorting es here (3241.00 - 42) is that the market will give you pretty quick feedback as to whether you are right or wrong.