The SPY which tracks the S&P 500 has been trading since the early part of 1993. My research shows that when the 2 Period Relative Strength Index (RSI) closes below 10 and the SPY gap down 2% or more at the open of the next trading day substantial upside reversals have occurred. Since 1993 there have been 7 occurrences when both of these paramters have been met as shown in the table below. The SPY have had an average gain of +9.4% within 5 trading days and +12.3% within 10 trading days when both of these cond[...]
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[Source: The Money Blogs]
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