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Record reversal

Jason Goepfert
2021-02-23

Should it hold into the close, the S&P 500 will have fully reversed more than a 1.75% loss, while closing within 1.5% of its 52-week high. This would be the 2nd-largest such reversal while so close to a former peak. The other was in February 1980.

It looks great on a chart, but the table below shows every time it reversed at least a 1.5% intraday decline to close positive on the day, while being within 2% of its high. It does not have a good record at holding the gains, but with the usual caveats that come with a small sample size.

If we finagle the parameters to get a larger sample, it still didn't have a great record at holding these reversals.

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