“Low-volume studies are not worth consideration when the low volume occurs right before a holiday…The market is in a neutral, mixed environment with short-term bullish tendencies but longer-term risks still elevated. Evidence is conflicting, and the recommended approach is patience and selective trading rather than aggressive positioning.”

- Rob Hanna, Quantifiable Edges

A very good point and excellent advice putting the data and studies based upon it, especially last Thursday, into doubt.