Ok I just read this

"Yesterday we had the strongest day in the last 20 trading sessions; it was also the highest volatility day in SPY over the past 20 days. Since 2000, when that's happened, we've been up the next day 16 times, down 9 times. Not a significant bullish edge, but certainly not a bearish one. I'll be following up with intraday Twitter posts (follow here) and will update the charts during the day."

its not that I disagree, a strong trend day, tends to have some follow through. But I don't need to fuck around with a 20 day indicator to know that.... I also know that there is a 3 day tendency for more upside.....

but here is where the bias comes in.... is the 20 day story of yesterday... The story of Yesterday... Is it the story of the one day 20 point move on the SPX.... or is it the story of the 10 odd down days Vs the 10 up days... that moved us from 950 to 870.

If we have 5 more updays the 20 day story will be "Flat" .... I remember a day when we move 100 spx points.... Was that day the story of 1 day of strength vs 20 days... or was it the story of 10/13/07... and a 20 day 400spx decline.....

you have to look at the context of the move vs larger time frames. Because 20 days is no "Mean" it's a tiny sample.... and it's easy for one day to be more the story of the other 19 than it is the story of that ONE SINGLE DAY!....

This is where all these dipshit Financial types are Clueless... More Psychologist than Mathematician.. More Religious Zealot than Scientist.

and I'm not saying we won't go higher for a few days... but my point is this is USELESS ANALYSIS.... and more apt to be confirmation bias than anything.