Minutes Digest for Feb 11 2021
Another positive open
- Published:
2021-02-11 08:07:07 - Author: Jason Goepfert
Futures traders have been pushing the major indexes higher seemingly every day. And not just for marginal gains of a few points. On 14 out of the past 20 sessions, the S&P 500 fund, SPY, has gapped up at the open by at least 0.2%, nearly the biggest cluster in its history.
Same goes for the Nasdaq 100 fund, QQQ.
And the Russell 2000 fund, IWM.
Averaging across all 3 funds since they all came into existence more than 20 years ago, today marks a new all-time high in at least moderately positive opening gaps.
This has mostly been unsustainable in the past, if we can rely on history at all in this market.