Bullish Close

The market ended the day with a very bullish tone.  Our pattern recognition algo flagged today as a no brainer sell the open buy the close.  Remember, the algo patterns are based on all the similar occurrences that the computer matches in the database.  We were running identical to the historical analog until around 1pm when buyers stepped in.  The market showed great relative strength for the rest of the day.  Yes this is a bit meta but still noteworthy.  With the strength at the close today feels more like back and fill than the start of a cascading sell off.  If we can avoid the news flow wildcards, the market has the potential to surprise a lot of people to the upside.

Algo:

Actual trade:


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