In the month of January we have experienced an above average amount of intraday reversals. The number of occurrences and probability of seeing these reversals were identically symmetrical.
Yesterday, we experienced one of the rarest “reversal”-type days where the S&P 500 rallied on the open to be up almost 1% intraday and then proceeded to sell off to the point where we closed down 1% on the day. Other indexes were hit harder. The Russell 2000 sold off around 90 points, or over 4%, in the matter of a few hours.
Join Tom and Tony, as they walk us through the rarity of such a reversal and when to expect them.
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