Where was the up-volume

Friday was an all out down day for the market, the up-volume to total volume ratio was .03.  One of the lowest readings since 1980.  But this low reading could be contributed to the holiday and shorten session. 

Here is what the market did the last 5 times the ratio had a .03 reading, since 1980. 

Five out of five times the market ended up the next day.  5 days and 10 days later SPX closed up 3 of the 5 times and 15 days later, SPX closed up four of the five times. 

Here is the SPX chart with the most recent .03 Ratios

1987

1982

During this rally, there have been many one sided down days.  The last large lopsided day was Oct 31st.  Here is that post on the old site.  On October 31st the Up-Volume to total Volume ratio was .05.

Here is what SPX did historically each time the ratio was .05.

Since the rally in March, each time there was ratio of .05, the market rallied for the next day days.

Using the historical data, there is a chance the market rallies from here as it has for the last 4 times but the last time there was a .03 ratio the market fell to it's new lows.