Tuesday, April 22, 2014

ChartDNA: Predictions for April 23rd in the SPY

First round of analysis from the newly released ChartDNA application, currently available on the Bloomberg App store. APPS DNA<Go> to get started.

The main caveat with the aforementioned projections is the inclusion of the real-time bar.  The analysis was run after the first hour of trading, and the likelihood of the most recent candlestick turning into something else is high (thereby changing the nature of the pattern).

Note, the analysis projects from the next bar's open - which in this case is tomorrow's open (Wednesday).  For example, as of from Wednesday's open, there is a 48% probability - based on the Average - for a higher close that day, but a 52% probability for a higher close as of from Wednesday's open to next Tuesday's close.

UPDATE: Tuesday closed as per the real-time bar, so the aforementioned projections are unchanged for Wednesday, April 23rd.

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