------------------------------------------------------------------------------------------------------------------------------------------
PeriodQS ReturnS&P 500 ReturnEvent ProbabilityChance Of Rise
In Next Equivalent Period
5-day-9.4%1.2%32%49%10-day-12%2.5%31%35%21-day-19%3.3%31%52%
------------------------------------------------------------------------------------------------------------------------------------------
'Event' refers to QS return >= to observed return within specified period; 'Equivalent Period' refers to same period as that specified for past return
Periods specified in trading days; 5-day = 5 trading days
Calculation of 'Event Probability' and 'Chance of Rise' using last 1 year data
[1] -9.4% or higher return during 5-day period in 71 times out of 221; Stock rose in the next 5 days in 35 of these 71 instances
[2] -12% or higher return during 10-day period in 68 times out of 216; Stock rose in the next 10 days in 24 of these 68 instances
[3] -19% or higher return during 21-day period in 64 times out of 205; Stock rose in the next 21 days in 33 of these 64 instances