Follow-Through
“When a market closes strongly in my favor, it has a higher-than-normal likelihood of following through the next morning. This means that a long position that closes in the top of its range will likely move higher early the next trading day. I believe this occurs because buyers are not filled and this momentum spills over into the next morning. The same is true for short sales when the market closes near or at the bottom of its range.”
–Jeff Cooper, from Hit and Run Trading (1996, M. Gordon Publishing Group, Los Angeles)