Rob Hanna, blogging at ETF Prophet, has this to say:
From the 5/2 peak down to the low on 6/16 the SPX declined 8.2%. After such a decline, Investors Business Daily followers will be eagerly awaiting a follow-though day (FTD) before looking to aggressively allocate intermediate-term trend following positions to their portfolios. I conducted and published to the blog extensive research into IBD Follow-Through-Days (FTD) over the last few years.
I’ll be updating some of it and showing some new information in the next several days, but I would suggest readers that are interested in FTDs may want check out the links below.
Be sure to read the rest of Rob’s post here, which includes several very good links to his research on Follow-Through-Days.
