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Monday, February 05, 2024 3:05:27 PM
Double Indications of Momentum - in One Signal
By: Nautilus Research | February 5, 2024
• Friday's closing bell rang with the emergence of a relatively rare technical momentum signal. The SPX posted a +38.50% upswing from its October 2022 low and a +20% rebound from the October 2023 low. When the larger swing occurs within less than 3 months of the smaller swing, which one might characterize as a resurgence of momentum following a brief pause, historical data indicates continued strength.
In our analysis spanning back to 1904, inclusive of Dow data prior to 1927, we have unearthed 12 analogous instances of this phenomenon. Over the subsequent 3-6 months following these signals, the S&P 500 (SPX) displayed gains in 11 out of 12 cases. Peering ahead to a one-year horizon, the SPX registered positive returns in 10 out of 12 occurrences, boasting an average gain of +23.11%. It is noteworthy that the only significant cautionary event transpired in 1930.
For a more comprehensive examination, please consult the accompanying chart and table below.
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DiscoverGold
By: Nautilus Research | February 5, 2024
• Friday's closing bell rang with the emergence of a relatively rare technical momentum signal. The SPX posted a +38.50% upswing from its October 2022 low and a +20% rebound from the October 2023 low. When the larger swing occurs within less than 3 months of the smaller swing, which one might characterize as a resurgence of momentum following a brief pause, historical data indicates continued strength.
In our analysis spanning back to 1904, inclusive of Dow data prior to 1927, we have unearthed 12 analogous instances of this phenomenon. Over the subsequent 3-6 months following these signals, the S&P 500 (SPX) displayed gains in 11 out of 12 cases. Peering ahead to a one-year horizon, the SPX registered positive returns in 10 out of 12 occurrences, boasting an average gain of +23.11%. It is noteworthy that the only significant cautionary event transpired in 1930.
For a more comprehensive examination, please consult the accompanying chart and table below.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
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