I like this chart a lot. However you conveniently left out 2/11 which was followed by a green candle and a run of over $2k. I think this chart applies aptly in a bear market, but are we in a bear market? I recall during the run up from October that every Monday morning price seemed to go up.
Looking back:
Sunday 11/12 - followed by a green candle and big rally
Sunday 11/19 - followed by a green candle and consolidation
Sunday 11/26 - followed by a green candle and rally
Sunday 12/3 - followed by a green candle and big rally
Sunday 12/10 - followed by a huge green candle
Then the pattern flips to bear starting with your first date of 12/17.
So this pattern may just as well tell us tomorrow will be a big green day if we are out of the bear and back in the bull. Looks like Mondays are trend confirmation days.
Correct, the weekend of 11-FEB-2018 did produce a rally.
However, 6 out of 8 weekends since the end of 2017 have been the start of major sell-off legs averaging 34% in declines.
The current 9th weekend has already started with a 10% decline. Statistically, this would equate to a 77% chance of a bear market underway.
