Strong rallies not needed for 90 percent or consecutive 80 percent upside days, Walter Deemer points out

Strong rallies not needed for 90 percent or consecutive 80 percent upside days, Walter Deemer points out
No strong rally needed for upside days

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.

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