Expectations for the week in the SPY ETF!!I took a look at the weekly charts of AMEX:SPY to see what we might expect this week. I have some expectations based on statistics that might help you understand what could happen.
Normally, the lows of a week are higher than the lows of the previous week 57.39% of the time. But these chances increase significantly in certain situations, and those conditions are present right now.
-There’s a 74.93% chance that this week's low will be higher if last week's close was higher than the open.
-If last week's close was the highest of the last 5 weeks, this chance goes up to 77.11% .
-And when last week's close was higher than the previous week's close, the probability is 72.79% .
As for the close of the week, 64.62% of the time it tends to be lower than the high of the previous week. But this probability also increases to over 70% under certain conditions, which are also present now.
-There’s a 72.96% chance that this week's close will be lower than the previous week's high if the open from five weeks ago was higher than last week's close.
-And if last week had a range (difference between high and low) greater than 4.13%, the chance is 72.27% .
Disclaimer: These expectations are based on statistics and do not guarantee results. The financial market involves risks, but with this information, you can manage your positions and even build smarter trading systems. Just remember to always make decisions with caution.
