inside day report

8/8/2019 Inside Day Report

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The Inside Scoop on the Inside Day

An inside day is simply where the range for the day is inside the range of the previous day. Inother words, it is a day that has a lower high than the previous day AND a higher low than theprevious day.

For many years there has been some very good information on how to trade an inside day. My firstexposure to this inside day came from Larry Williams many years ago. I am not sure where Larryfirst got the idea to look at this particular pattern, but no doubt it has been around for a very longtime. However, I have never seen a complete picture of how an inside day should be traded. Thatis why I have taken it upon myself to create the complete picture with this report.

I am going to do things a little differently than most reports like this I have done. In the past, I havecreated the report by detailing the process and then giving the conclusion at the end. This time, Iam going to give my conclusion at the end and the provide the process and evidence I used to basedmy conclusion. It is my belief that if you see the end first, you will understand the process bettersecond.

Before I get started, you need to understand a few things about how I look at the market andspecifically, short-term trading the S&P.

PURE MARKET MOVE

This is a Pure Market Move Report. When I research short-term patterns in the S&P, I start bylooking at the market movement from the open to the close. I do not create special entry or exitrules, I am looking for the pure market movement that occurs immediately after the pattern beinginvestigated. By doing so, I am not looking at any statistics that were potentially created by datafitting, I am looking at EVERY occurrence in its purest form. Every stat in this report is based onbuying on the open and exiting on the close, no stops or targets. Accordingly, selling opportunitiesactually show up in the form of losses in the statistics. This will become more clear as you get intothe report itself.

BIG S&P VERSUS S&P E-MINI

Testing is done in the BIG S&P, not the S&P E-mini. There are several reasons for this. The firstis because the S&P E-mini does not have a set open and close period like the big S&P, which is9:30 to 4:15 Eastern. The second is because the S&P E-mini does not go back to the beginning ofour testing period, which is 1991. Having said that, please understand that in actual trading, it is myrecommendation that traders use the S&P E-mini, even if you do have a larger account. Thevolume in the S&P E-mini has far surpassed the volume in the pit traded contract. As a result,slippage in the S&P E-mini is virtually non-existent compared to the massive slippage that is almostcontinually realized in the big S&P.

TESTING PERIOD

The testing period only goes back to 1991. The main reason for that is because part of theinformation I am looking at is the average size of the move in the market immediately after theoccurrence of the inside day. Todays average range in the S&P is far larger than it was in 1991. If

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I include too many years prior to 1991, the data will be severely skewed and inaccurate as far as theaverage size move is concerned. This is not only a problem with accurately assessing what thereasonable profit potential is in any given situation, but also what the reasonable risk is as well.Since 1991, there are over 450 inside days in the S&P, and provides more than large enough base ofoccurrences.

SEASONAL FACTORS

In order for you to completely understand the process and reasoning behind some of thesestrategies, you MUST understand that short-term seasonals play a major role influencing the nextdays market action. For evidence of how important short-term seasonal factors are, you canpurchase my Report entitled S&P Day of Week Reportby going to the following link. In thisreport, you will see many trading opportunities exist from seasonal influences regardless of marketaction at the time.

Link to purchase S&P Day of Week Report

For example, the most bearish week of the year is the third week of July. In 2004, if you would

have sold on the open and exited on the close each of the 5 trading days during the third week, youwould have won 4 out of 5 for a total net profit of $8,775! This is a strong selling opportunity, evenin bull markets. In the 90s, selling during this week still provided a net profit almost every year.

There are times when patterns are solid regardless of the seasonals. But more times than not, youwill find that patterns can be strongly enhanced by combining seasonal factors, such as day of week,week of month and month of year. These will become very obvious as you look through theperformance reports provided in this report. Seasonal factors are definitely taken into account whendetermining how to trade inside days in the S&P.

There are a few seasonal consistencies that have shown to be very consistent when combined with

an inside day. For example, if the next trading day after an inside day occurs falls within the secondweek of the month, almost all other circumstances do not make a huge difference (although thereare some). As a general rule, this is a very bearish combination. This is also a strong combinationin many other patterns that provide selling opportunities as well, so it is no surprise that this is thecase.

Likewise, the most bullish months of the year for many bullish patterns are March and October.Again, there are exceptions, but the inside day is generally not one of them. Bullish patterns can bevery bullish when combined with the months of March and October. Even some bearish patternsbecome bullish during these two months. Again, because of the consistency, it should definitely betaken into consideration.

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Finally, there are some combination of seasonals and the inside day that do not seem to make muchsense on the surface. However, just because it does not seem to make sense on the surface does notmean that it is not valid. Certainly, a little extra caution should be used, but many times there is aperfectly good explanation, and sometimes there is not. For example, there are certain Wednesdaysthat seem to very well while all the other days of the week do not with a certain pattern. Researchhas shown that Wednesdays can often be a contrarian day with certain types of market action. Thisis in line with some of the performance reports provided in this report. Others are not so easilydiscernable, and, in fact, may simply be a statistical anomaly. It is impossible to know which onesfall under which category. Accordingly, the proper way to approach these scenarios is to not pick


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When there is an inside day and the close is less than the previous close, week one is the mostconsistent week providing the most opportunities and the highest probability. The first Friday ofthe month has shown the largest moves to the upside following this pattern.

Week two is bearish with most inside day strategies as you will see later on in this report. There aresome bullish scenarios, such as in March, but there is not enough consistency to include them in thisparticular scenario.

Week three is bullish with an average trade of over $800 (as long as you dont buy on the thirdFriday), but the probability number is only at 53%. Therefore, it is not quite as strong as some ofthe other scenarios and caution should be taken.

Week four is strongly bullish once you get past Monday and Tuesday (typically weak days overallregardless of pattern). There are fewer opportunities, but when they occur, very strong. Week fiveis also very bullish as long as you are not buying on the last Friday of the month, which can betypically bearish.

SELL STRATEGY # 1

IF INSIDE DAY AND CLOSE < OPEN OR CLOSE < CLOSE.1

Seasonal Filters:

Week 2 trades only.Not Mondays

Net Profit: $67,900# Trades: 52

% Profitable: 73%

Average Trade: $1,306

Win/Loss Ratio: 2.29

Profit Factor: 6.20

Strategy Notes

Here is a scenario that is showing weakness on the day of the inside day. This weakness isevidenced by either a lower close from the opening of that day, or a lower close from the previousclose. One OR the other. Both do not have to exist.

The best application is based on the second week of the month, again, as long as the trade is notplaced on a Monday (which means that the inside day had to occur during the first week). Since1998, strategy has reeled off 20 wins in a row!

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INSIDE DAY ANALYSIS:

Since 1991, there have been 455 inside days. As you can see from the stats below, if we buy on theopen and exit on the close each and every day immediately following an inside day, the statisticsslightly favor the downside, but are pretty much even overall. This alone should debunk the theoryout there that inside days are flat out bearish, because they are not.

This is the beginning point from which we will begin to further analyze these statistics and isolatevarious consistencies that tend to be followed by the market moving in one direction or the other.There are limitations to the profitability of our efforts. You will notice that there are a total of 215days where the market moved higher by a total of $327,238. There were also 240 days where themarket moved lower by a total of $378,963. This means that if we were able to assign some sort ofcircumstance to isolate every buying opportunity and every selling opportunity, the maximumpotential profits available is just over $706,000. Obviously, we will not be able to isolate everybuying and selling opportunity. In fact, isolating 20% of the total profit potential in any pattern isdoing very well. As you have seen from the above strategies, we have been able to exceed that byrequiring some basic market action and seasonal filters. As we begin to break the 455 occurrencesdown, there will be more.

INSIDE DAY WEEK OF MONTH BREAKDOWN

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The first breakdown we are going to look at is the weekly performance of inside days. The oneweek that sticks out is the second week of the month. As stated earlier, this is when the day AFTERthe inside day falls between the 8th and the 15th of any given month. At this stage of the analysis,this is a huge factor that will play a huge role in being able to easily uncover some very profitableand consistent opportunities.

The first week comes in a distant second place with regard to offering some obvious opportunities.The first week also has the fewest number of opportunities compared to the other weeks. Weeksthree and four are statistically even and we will have to look at circumstances in market action touncover the trading opportunities.

INSIDE DAY DAY OF WEEK BREAKDOWN

Monday looks to be the most bearish day of the week with regard to the size of the move down asillustrated in the Average Trade section. However, about half of that net average trade comes fromone $13,550 move as evidenced by the max loss column. There are also max wins that offset manyof these, so all in all, there is a slight bearish overtone, but nothing overwhelming from the day ofweek breakdown.

INSIDE DAY MONTH OF YEAR BREAKDOWN

There are definitely a few stand out months that should be taken into consideration when looking toisolate trading opportunities based on the inside day. October is clearly the most bullish monthwhich is consistent with many other patterns as well. This is followed by March (again, consistentwith other trading patterns). May looks to have a positive net average favoring the upside, but theprobability of direction favors the downside by 56%.

On the bear side of the breakdown, January, April, July and August are all very solid in the bearcamp. That doesnt mean that there are not buying opportunities, it just means that they will befewer and further between. If you have done any research in market action in general, or read myDay of Week report, you will see that every single one of these four bearish months with regard tothe inside day are also more bearish in general.

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The process from here is to begin to combine some of these findings with additional market actioncharacteristics to determine where and when the best trading opportunities exist. As evidencedearlier, some fairly simple requirements can be added to the inside day requirement to achieve ourgoal.

THE MOST OBVIOUS FIRST:

The first week of the month proved to be the most bullish week. We will start there. The first thingwe need to do is break the first week down by days of week and also look at the monthlyperformances.

INSIDE DAY - WEEK ONE DAY OF WEEK BREAKDOWN

The $1,515 average trade shown on Friday is a very solid number. This includes a move down ofover $10,800 in the average, but also includes an $11,000 move higher, which cancel each otherout. This means the statistics are pretty much an accurate reflection of when the buying opportunityis during the first week. The probability is almost at 60% which I personally would like to see a

little higher, but the numbers definitely support buying regardless.

On the flip side of this is Thursday. At 70% down, this cannot be ignored. The average move downof $486 doesnt match Fridays buy number, but the probability picks up the slack. Wednesdayshows a solid probability of moving down, but the average move down is severely lacking.Tuesday looks dead even and Monday only has 13 occurrences and a negative average trade tooffset the almost 70% probability to the upside. Thursday and Friday of the first week look to bethe days to key on.

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INSIDE DAY WEEK ONE MONTHLY BREAKDOWN


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Less emphasis has to be given to the monthly breakdown here simply because there are feweroccurrences as a general rule. However, it comes as no surprise that March and October are solidbuying opportunities for the first week, regardless of which day of the week it is. June also makes

an entrance as a bullish first week for the inside day. These are something that we will note asopposed to creating some sort of trading opportunity around.

INSIDE DAY WEEK TWO DAY OF WEEK BREAKDOWN

Clearly, the most solid trading opportunity from strictly a seasonal standpoint is on Tuesday duringthe second week of the month. At 65% to the downside with an average move down of over $1,000without any additional requirements, this is tradable as is. It will get even better once we begin toadd an additional requirement as far as market action is concerned. Wednesday thru Friday alsooffer decent selling opportunities all by themselves. Monday is the lone day that favors the upside,which should not be surprising as the inside day itself would have occurred during the first week.

INSIDE DAY WEEK TWO MONTHLY BREAKDOWN

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This is one of the most consistent seasonal situations you will find in all of trading for such a simplelittle pattern. Negatives all the way down except for March. There are only three months that postprobabilities that favor the market moving higher, but two of them still post net average moves tothe downside. More than anything, this simply adds to the validity that the second week of the

month for inside days is bearish and is tradable.

INSIDE DAY - WEEK THREE DAY OF WEEK BREAKDOWN

Monday and Tuesday show some pretty solid numbers, obviously Monday for selling and Tuesdayfor potentially buying. Wednesday shows a probability for the market to move down, but the netaverage is not impressive. Thursday and Friday are hinting at a few hidden possibilities, but as faras seasonal breakdown alone, nothing too major.

INSIDE DAY - WEEK THREE MONTHLY BREAKDOWN

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As you will recall, week three was pretty much dead even as far as the overall stats were concerned.Looking at the days of the week and monthly breakdown begins to separate some of theopportunities. The third week of May is the stand out, but only five occurrences limits theimportance. The reversal in March statistics should be noted. Week three is bearish.

INSIDE DAY WEEK FOUR DAY OF WEEK BREAKDOWN

Stand out days in week four are Mondays for the sell side and Wednesdays for the buy side. Otherdays there are either contradictions or the day is neutral, such as Friday. One note, Wednesday hasthe fewest number of occurrences and a rather large loss average, which means there are still someselling opportunities.

INSIDE DAY WEEK FOUR MONTHLY BREAKDOWN

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Where week two saw the most consistency, week four has the biggest contrasts. There are five verysolid bearish months and six very solid bullish months. March numbers are not dramatic. Thecontrasts are so dramatic that this monthly breakdown may be more important in determining howto look at the fourth week than the monthly breakdown in other weeks.

INSIDE DAY WEEK FIVE MONTHLY BREAKDOWN

Week five is actually not a full week, but is limited to trading on the 29th, 30th or 31st of a month.Because of this, there are obviously fewer occurrences.

The dramatic numbers come on Monday (bullish) and Friday (bearish). With so few occurrences,assigning any major influence to the seasonal scenario alone may not be advisable. But I includedthem for your information.

INSIDE DAY SEASONAL SUMMARY:

There are several inside day seasonal scenarios that may provide solid trading opportunities withoutany further requirements in market action. They are:

1. Sell first Thursdays of month2. Buy the first Friday of the month

3. Sell during the second week of the month except Mondays and March4. Buy third Monday of month except July (3

rdweek of July is most bearish week of year)

5. Sell third Tuesdays of month with caution in May and October.6. Sell fourth Monday of month with caution on all bullish months.

From this point on, there is going to be a massive number of different scenarios that we are going tolook at with a massive number of statistics. I am not going to provide a tremendous amount ofcommentary with these statistics as most will be obvious as far as what might be tradable and whatmight not be tradable. However, there is another summary at the end listing the various tradingopportunities based on statistics provided. You may skip down to the summary without missingmuch. All of the following statistics are provided for your own information and reference.

Also, keep in mind that certain patterns may provide duplicate trades that are also reflected in otherpatterns. For example, if we are looking at a close that is lower than the previous close and nothingelse, there will be some duplicate trades from looking at a close that is lower than that days open.

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The first requirement we are going to add to the inside day requirement is that the close of the insideday is less than the previous close. By doing so, we will essentially cut the number of occurrencesin half. This is how we will begin to isolate trading opportunities, by the most simple and obviousdivisions.

Close < close.1

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This simple requirement substantially increases the probability of selling the second week, anddramatically increases the probability of selling on Mondays. These two factors alone providealmost $100,000 in profits out of the potential $379,000 available from selling the market. That ishuge.

It is no surprise that the only months that have a greater probability of seeing the market movehigher when the inside day close is less than the previous close is March and October. Remember,these stats include all weeks.

Close > close.1

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What was good for one side, was good for the other. Week one shows the greatest increase inprofitability by requiring the close to be greater than the previous close. No surprise that week twois still bearish, but not by much. Clearly buying during the second week should be few and farbetween.

Wednesday was the biggest beneficiary of requiring the close to be greater than the previous close.The surprise in the monthly performance comes in March. May is the strongest all-aroundperforming month. This was also the case with the close of the inside day being lower than theprevious close.

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The next step is to look at where the market was going just prior to the inside day. I required thatthe previous close was actually below the low of the bar before that. This means that the day beforethe inside day was down pretty significantly. Is the inside bar simply a resting day for such anoccurrence? The statistics dont lie.

Close.1 < low.2

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That theory is certainly not the case with regard to the first week of the month. Weeks three andfour looks like a coin toss with this situation. Wednesdays and Thursdays are clearly solid all

around which is no surprise when taking into consideration that Wednesday is a contrarian day inmany situations.

Once again, we will look at the opposite side of the coin and require that the day prior to the insideday was moving higher, to the point where the close was actually greater than the previous high.

Close.1 > high.2

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The logic that the inside day was simply acting as a resting day prior to the market continuinghigher is proven to be completely false across the board. Out of all of these statistics, thepercentage probability AND the net average move favors the market moving down in all days, allweeks and all months except for March and October.

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I am going to break pattern here and combine those two requirements before moving on.

Close < close.1 AND close.1 > high.2

Three of the four weeks are almost at 70% down with every day except Tuesday at 65% down ormore. As you will see, March and October are the only bullish months, and outside of August, therest are strongly bearish.

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Again, for the sake of pursuing this thought one more step, I am also going to combine the oppositeof the above and require that both the close is greater than the previous close AND the previousclose is less than the low before that:

Close > Close.1 and Close.1 < low.2

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These stats are not as impressive as its opposite pattern, but they are impressive nonetheless. Weekone shows the largest increase in performance while Mondays, Wednesdays and Thursdays are also

very solid, especially Thursday. Not all months are bullish, but there is not a single month that issolid in the bearish camp. One oddball standout is one again, March.

Before the patterns get too complicated, we are going to simplify things again and bring it backdown to a single additional circumstance. This time, we are going to look at days where the closeof the inside day was higher than the open of the inside day, regardless of where the close was inrelationship to the previous day. There are going to be some duplicate trades and this is not goingto represent a brand new set of statistics.

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Just looking at the close moving higher from the open does not seem to play a significant role indetermining where the market might move the following day. Regardless, we will once again lookat the opposite of this scenario and require the close to be lower than that same days open.

Close < Open

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Again, there is not a tremendous influence from looking at just the market moving down from theopen, but there is a little more consistency then from the opposite requirement. Week twoobviously falls in line while Mondays look to be quite bearish from this scenario. There is alsomore consistency in the monthly performance levels and even a negative net average for the monthof October.

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INSIDE DAY AND GAPS:

Before we get into any more complicated situations and strategies, I am going to take a look at thefollowing open and require that the market gap higher than the inside days high or lower than theinside days low.

Next bar open > high

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The weekly scene is almost dead even with the most bearish week being week four, not week two.The first three days of the week tend to be a little more bearish when the market gaps higher, butnone that are too dramatic. The monthly outlook seems to have the overall characteristic play arole. The bearish months are bearish with this pattern and the bullish months are bullish. If themarket gaps higher after an inside day, the monthly performance should probably at least beconsidered.

Next bar open < low

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A gap lower doesnt provide too many buying opportunities based on the week or day of week.

Week four shows a net average move higher of $602, but at a probability of less than 50%. Samescenario with Friday, strong net average move higher with a probability of less than 50%. Weekthree and Thursdays are the most bearish situation with this particular setup.

February is the most bullish while December is the most bearish??? The number of occurrences ineach month with this setup is the big red flag with this situation. There are 32 fewer occurrences ofthe market gapping lower after an inside day than the market gapping higher.

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We have looked at a scenario where the market was either moving higher the day prior to the insideday or lower prior to the inside day. The following statistics reflect a close previous to the insideday that is within the range of the day prior to that. It is the in between pattern from what welooked at earlier.

Close.1 < high.2 and close.1 > low.2

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There is nothing that sticks out with this scenario alone. There are enough occurrences though thatwould support adding some additional requirement to see if a more clear picture emerges.

The following stats are based on requiring the previous close to the inside day be inside the range of

the day before that and for the close of the inside day to be less than the previous close.

Close.1 < high.2 and close.1 > low.2 AND close < Close.1

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We have solid bullish numbers for week one and solid bearish numbers for week two. Wednesdays

are clearly bearish and once again we have February the most bullish month and December the mostbearish. Perhaps there is a pattern being uncovered here. This was the case when the marketgapped lower than the inside days low.

Again, looking at the opposite side of the above scenario, we will simply require the close of theinside day to be greater than the close of the previous day.

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Close.1 < high.2 and close.1 > low.2 AND close < Close.1

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There are a couple of things that stand out with these stats. The first is the fact that this is the mostbullish second week we have seen yet. It still has a net average move down, but barely. The otherthing is that Wednesday is opposite of the Wednesday in the opposite pattern. It was a sell in theopposite pattern and it is a buy in this pattern. Friday also stands out.

One last major topic we are going to look at before we make some final conclusions and puttogether some solid trading opportunities from these statistics. I am going to turn the focus to the

movement from the open to the close of the day before the inside day, and then add the inside dayinto that scenario as well. It should be noted that this pattern includes inside days where theprevious close was greater than the high before that, and lower than the high before that. In otherwords, it encompasses a combination of the previous close being inside the range of the day prior tothat as well as higher than the high of the prior day.

Close.1 > open.1 (regardless of where the close of the inside day is)

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This scenario paints a potentially bearish week one while also painting a very bearish Wednesday.Overall this pattern is bearish, which falls in line with previous patterns that encompass some of thesame trades.

The following is combing the above pattern with another bearish pattern of having the close of theinside day close lower than the previous day

Close.1 > Open.1 AND close < close.1

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Here is the only bullish second week pattern we have run across. Monday and Wednesday flippedto the bullish side, which is not a surprise. March and December also made huge reversals.

Switching gears one last time, we are going to now look at the day before the inside day with theclose moving lower than the open.

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Close.1 < Open.1

As expected, the opposite does slide to the bullish camp as a general rule, although it doesntovercome the strong down bias in the second week. None of the stats are dramatic, but some arepretty solid.

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Adding the requirement of the inside day close being lower than the previous close has some prettybearish probabilities. Basically, the previous close was lower from the open and the current close islower from the previous close (market showing weakness).

Close.1 < Open.1 and Close < close.1

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We have some new stats coming out that have been more on the quiet side. Week three shows astrong bearish tendency, but the number of occurrences is bordering on questionable. Monday isvery bearish, even without the $13,000 down day. There is consistency though with similarsituations which adds to the overall validity.

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Reversing the inside days close to being higher than the previous close also has some bullishpossibilities:

Close.1 < Open.1 and close > close.1

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As with several other situations, the bullish stats are solid, but none of them are dramaticallybullish. Weeks one and four stand out with this scenario. This is also one of the more consistentbullish scenarios with regard to the monthly performance as well.

WEEK ONE BUYING PATTERNS:

1. Close > close.158% Up, Average Trade $686

2. Close.1 < Close.258% Up, Average Trade $800

3. Close > Close.1 AND Close.1 < Low.265% Up, Average Trade $1,077

4. Close.1 Inside Previous Range AND Close < Close.150%, Average Trade $889

5. Close.1 < Open.157% Up, Average Trade $786

6. Close.1 < Open.1 AND Close > Close.160% Up, Average Trade $877

WEEK TWO BUYING PATTERNS:

1. Close.1 > open.1 and close > close.169% Up, Average Trade $418

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WEEK THREE BUYING PATTERNS:

1. Close > Close.1 and Close.1 < Low.255% Up, Average Trade $587

WEEK FOUR BUYING PATTERNS:

1. Close > Close.1 and Close < low.261% Up, Average Trade $534

2. Close.1 < Open.1 and Close > Close.159% Up, Average Trade $558

WEEK ONE SELLING PATTERNS:

1. Close.1 > High.258% Down, Average Trade $518

2. Close < Close.1 AND Close.1 > high.268% Down, Average Trade $899

WEEK TWO SELLING PATTERNS:

1. If close < close.1 (not Mondays)68% Down, Average Trade $1,219

2. Close.1 > high.263% Down, Average Trade $994

3. Close < Open66% Down, Average Trade $1,055

4. Close.1 < high.2 and > low.256% Down, Average Trade $716

5. Close.1 > open.155% Down, Average Trade $963

6. Close.1 > open.1 AND close < close.164% Down, Average Trade $1,507

7. Close.1 < Open.155% Down, Average Trade $507

8. High < close.1100% Down, $3,617

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WEEK THREE SELL PATTERNS:

1. Next bar open < low56% Down, Average Trade $530

2. Close.1 < Open.1 and Close < Close.156% Down, Average Trade $1,151

WEEK FOUR SELLING PATTERNS:

1. Close.1 > high.267% Down, Average Trade $450

2. Close.1 > high.2 AND Close < Close.169% Down, Average Trade $617

The above statistics and potential buying and selling weeks can be further broken down based on

day of week and even month. Below is an example of taking one of the buying patterns for weekone and further enhancing the stats based on the day of week performance. The one caution is thatadditional filters may be isolating too few of trades for there to be a valid statistical data set.Caution should be used.

BULLISH INSIDE DAYS:

1. Week 1 Only If the close > close.1 and the next day is not Thursday:

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2. Week 3 Only If the close > close.1 and the next day is not Friday.

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3. Week 4 only. If close > close.1. Take trades only if next trading day is Wednesday,Thursday or Friday. Also, do not take any trades during month of June or July.

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BULLISH INSIDE DAY WHEN CLOSE.1 < LOW.2

1. Week 1 only. If close.1 < low.2 and the next trading day is NOT Tuesday.

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2. Week 3 only. If close.1 < low.2 and next bar trading day is either Tuesday orWednesday:

3. Week 4 only. If close.1 < low.2 and next trading day is Tuesday or Thursday only.

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4. Week 5 only. If close.1 < low.2 and the next trading day is NOT Friday.

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COMBINED Trades for Close.1 < low.2

COMBINED close.1 < low.2 AND close > close.1 (except during week 2)

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FINAL NOTE

For a daily application of all of the above, be sure to refer to the S&P Probability Analysis dailyemail and Signals.

www.DayTradingCalendar.com
http://www.daytradingcalendar.com/http://www.daytradingcalendar.com/

inside day report

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