Sometimes the last half hour is strong to the upside following an otherwise down day, and sometimes its not.
Above is Friday's example of a strong upside move in the last half hour following a bearish day. Looking at the last hour of trading, we see a bullish $TICK divergence confirmed with higher highs of the 2-Period SMA (white line). This increases the probability that the last half hour will be strong to the upside.
In contrast, look at what happened in the last hour of trading on 03/03/09. There was no bullish $TICK divergence and the 2-Period SMA could not make a higher high. The probability of a strong upside finish was not good on this day.
Charles
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