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Market commentator Walter Deemer clarified that based on NYSE and NASDAQ documents, there is no requirement for a strong or durable rally at the outset to achieve either a 90 percent upside day or back-to-back 80 percent upside days when such a rally begins.
Deemer emphasized that these conditions can be met without significant initial market strength, contrary to some perceptions.
Deemer has previously commented on downside activity, noting that a 66 percent downside day registered at 11:00 lacks market significance based on Lowry’s criteria, according to his earlier analysis. He has also identified 657.03 as a key gap level for SPY, explaining that trading above this threshold could indicate a potential breakaway gap in a separate update. These observations reflect his ongoing focus on technical benchmarks and market data.