faith friday, page-61

Below is a chart with my open/close indicator.

That is the blue line in the top indicator panel.

It says nothing about where the market opens on Monday but says if the SPI close is the same as the open then it is marginally worse than Aug 17 which was one day after the Aug low and a day when we had a huge SPI discount and of course they got it wrong.

So if the close is worse than the open you have to go back to after the 1987 crash in the last days of Oct and early Nov.

My conclussion is regardless of where Monday SPI opens, buying that open price is a very low risk position just for the day.

Should Monday fail to generate a higher close than open I would apply the logic to Tuesday or even just hold long as a possile repeat of Aug 22 leading to a Aug 23.