The market has been testing yesterday's high of 1171. The Consumer Confidence report at 1000 ET may move the market.
Days following an up day have generally been bullish. Currently, the market is between the 1615 ET close of 1168.75 and yesterday's high of 1171. When the market opens in this range, it closes the opening gap 77% of the time. It also tends to close about 7 handles or points above the previous day's close.
When the market opens above the previous day's high, it closes the opening gap 55% of the time, and closes 9 points above the previous day's close.
Charles
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