You'll find that it's true, if initial period is down then whole period will be more often than not down,but what I say is that it's pointless,useless,silly for the reasons written by fail3ed_trader.
Yea, this applies on most timeframes and agreed it's untradeable. It's like saying that when a team is up by 3 TDs at halftime they're more likely to win - of course that's true but any bet made at halftime where a team is up by 3 TDs will reflect that info.