Seeking Alpha
Registered investment advisor, macro, ETF investing
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Unfortunately, with the S&P 500 tracking SPY ETF trading down 2.5% once again this morning, we have to revert to yesterday's post (slightly modified) on large down gaps in the market once again:

Below we highlight the largest down gaps in the S&P 500 tracking SPY ETF since 1994. As shown, when gapping down 2.5% or more, the ETF has traded higher 9 out of 10 times for an average gain of 2.70%.

click to enlarge

Source: Largest Down Gaps In SPY History: Déjà vu All Over Again