CME Group (CME) continues to consolidate with back-to-back gains inside a triangulation price pattern two days ahead of a triple witch Friday, a period of bullish tendency given CME's history. CME rose $1.50, or 0.2%, on Wednesday to close at $693.50.
Q: How has CME performed after two consecutive up days occurring two days ahead of a triple witch Friday?
A: According to the seven previous occurrences of this event, CME has shown a very strong bullish edge that peaks 19 trading days after the event. CME rallies in 100% of the cases (7 for 7) by an average of 6.8% relative to the close on the event date, projecting a target price of $740.66 by Thursday, Jan. 17, 2008.
If you would like to see more details of this historical edge, go to www.markethistory.com
Jay Pasch is a private futures and equities trader based in Minnesota. He may hold positions in the instruments mentioned in his trading ideas.
