The SPY and DIA met the ML1 Level up in mid-afternoon trading around 1:15-1:30 PM. Neither ETF managed to make a move to the next level. The markets made very deep pullbacks that tested the Low of the day. Both the DIA and SPY closed below the Open of the day.
All three market-based ETFs (SPY, QQQ, DIA) reach the MS1 level down in the first hour of trading. These ETFs continued lower and close below the MS3 Level Down during Monday’s trading session. Notice that after reaching the MS1 Level, each market pulled back. However, the pullbacks were not deep. Markets that pull back deep into the trading range are less likely to reach the extended levels.
Stocks that have reached the ML3 Level Up in early trading. This research is designed to demonstrate that the High…
You must be logged in to view this content.
The Intra-Day Momentum Method is a model for determining the intra-day market direction. The model was developed to find historically significant levels across a large number of stocks.
The model was applied to over 400 stocks from the S & P 500 from 4/2015 to the current day. The statistics are shown below.