Definitely not a bullish development, especially considering the EU news is being sold hard. Or is it?
The latest 200 day closing low for IWM is at $64.73. As I write this, IWM is trading at $64.57.
My intuition tells me that buying $RUT on the close when it makes a new 200 day low is a bad idea. However, a quick test shows that my intuition is incorrect.
The first trade was on 3.18.1997.
There were only 8 trades that were held the full 100 days.
These results differ somewhat from my research on buying SPY when it is making new 200 day lows.
For the record, the symbol used for the test was $RUT, not IWM. I have more data for $RUT.
Nice Woodward. Thanks
Thanks.
No problem fellas.