The $SPY finished just under 2.% off the lows today, so I ran a sample of days where the index finished 1.8% or better above the low for the day. You could dice it a lot of ways, but this is the one I chose.
It's happened a lot of the last 15 years, I looked at what happened the following day or days and didn't really see a major trend. Some days were up, some down and some barely moved. In looking at the list, I saw it happening a lot in 2008, a very bad year for stocks. So, I added up the numbers per year.
2015 | 3 |
2014 | 3 |
2013 | 2 |
2012 | 6 |
2011 | 21 |
2010 | 13 |
2009 | 40 |
2008 | 61 |
2007 | 7 |
2006 | 2 |
2005 | 1 |
2004 | 2 |
2003 | 23 |
2002 | 49 |
2001 | 40 |
2000 | 37 |
1999 | 20 |
1998 | 27 |
1997 | 24 |
1996 | 10 |
1995 | 2 |
1994 | 3 |
As you can see, the worst years are bear market years, 2008-9 and 2000-2002. Having a lot of these is a sign of volatility and a bad thing. I can't say what one day will bring, but a lot of them are not good.
Best of luck trading.