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Large Down Gaps in SPY

Below we highlight the largest down gaps in the S&P 500 tracking SPY ETF since 1994.  As shown, when gapping down 2.5% or more, the ETF has traded higher 8 out of 9 times for an average gain of 2.69%.

Selloff_2

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Did the SPY open down big on May 6, 1994?

Did the SPY open down big on May 6, 1994?

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