Monday Patterns

We used to watch for linear days on Employment data. Another tid bit was 2 months revisions that go in same direction of the data print. The following Monday (i.e. today) would present an "inside up" (or inside down if a linear up day) and some position reduction. This would set up a Tuesday failure and new low (high). If the market continued the pattern creating an outside new range - like today - the move was more likely to be exhausted. Both Treasury Notes and Spoos are exhibiting the latter pattern characteristics today.

Leave a Reply

Your email address will not be published. Required fields are marked *