How often SPY open to high is greater than open to low by day of week, year

I’m not sure if it isn’t just statistical noise, but this year SPY open to high is quite often larger than open to low.  I decided to run two tests – one for the first six months of the year and the other for the last six months.  I looked by day of the week for each year.  For this year, about 70% of the time on Tuesdays and Thursday’s, the open to high is larger than open to low.  Back in 1995 was the last time when 2 days of the week were near 70% for the first half of the year and 2004 for the second half.  There seems to be some mean reverting as I don’t see any cases where the first half was greater than 60% and second half was also greater than 60% for the same year/day of the week.  Over the years, Friday’s seem to have  the fewest cases of open to high greater than open to low, particularly in the first half of the year.  Wednesdays for the first half of the year normally fall in the 40-60%, but the second half of the year about one third of the time the open to high is smaller than open to low.  I did not look at where the close fell.  Generally speaking the second half of year seems to have more cases of open to high being smaller than open to low.

First the first six months – percent of days where the open to high is greater than open to low:

MON TUE WED THU FRI
2013 43% 71% 50% 71% 52%
2012 55% 46% 50% 42% 44%
2011 57% 54% 46% 54% 42%
2010 39% 54% 54% 44% 33%
2009 57% 54% 40% 44% 44%
2008 48% 44% 50% 65% 24%
2007 45% 60% 65% 58% 44%
2006 50% 38% 77% 58% 36%
2005 57% 58% 42% 46% 25%
2004 52% 62% 54% 40% 42%
2003 39% 56% 52% 50% 56%
2002 45% 44% 58% 54% 44%
2001 45% 50% 42% 50% 28%
2000 43% 54% 46% 38% 40%
1999 39% 35% 46% 48% 29%
1998 43% 62% 52% 48% 36%
1997 50% 64% 40% 42% 52%
1996 65% 46% 46% 54% 48%
1995 70% 69% 46% 50% 44%
1994 58% 42% 44% 38% 50%

for the last six months:

MON TUE WED THU FRI
2013
2012 48% 42% 24% 60% 38%
2011 35% 65% 35% 44% 52%
2010 42% 50% 62% 42% 58%
2009 64% 38% 56% 50% 50%
2008 32% 44% 44% 38% 64%
2007 38% 52% 44% 32% 46%
2006 71% 60% 58% 40% 31%
2005 35% 46% 50% 52% 41%
2004 42% 58% 73% 42% 62%
2003 60% 52% 33% 58% 52%
2002 42% 48% 52% 50% 62%
2001 50% 42% 38% 50% 48%
2000 67% 44% 31% 52% 42%
1999 46% 23% 50% 38% 50%
1998 44% 50% 33% 46% 42%
1997 44% 52% 56% 38% 36%
1996 42% 33% 48% 54% 54%
1995 54% 40% 46% 48% 46%
1994 48% 46% 46% 36% 52%
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