Gaps in SP futures
#1
Posted 17 February 2007 - 11:05 AM
#2
Posted 17 February 2007 - 01:18 PM
#3
Posted 17 February 2007 - 08:49 PM
In all due respect, I'm not sure how much emphasis you can put on one trading day. And for that matter, gaps. There is a gap at the 1200 level I believe from late 2005......250 points away!!!! I believe we're stuck in a trading range for a few weeks with each week grinding higher in the short term. As for what tomorrow is going to bring, ain't got a clue!!Here's what i found interesting about yesterday and last thursday.
Last thursday the mkt gapped down and grinded higher to close top tick and yesterday was a carbon copy,
gap down and grind higher for a top tick close, so my bet would be on the horse named Korekson.
if the mkt gaps up on tuesday, look out below.
#4
Posted 17 February 2007 - 09:43 PM
Indeed, there are quite a number of unfilled gaps below. Not filling them before rising further has a message for the interday trader. My point though, which I may not have articulated well, is it is extremely rare for price to gap in the same direction 2 days in a row and not fill the second gap quickly that day. FWIW, the 2nd gap is filled within the first hour 90% of the time, and the % is higher later in the day. Not filling two gaps is actually quite significant. There are many reasons underlying this "pressure" in the market which over powers the floor traders habitual fade behaviour. I believe we HAVE been in a trading range, but it is soon to change based on this very rare clue.In all due respect, I'm not sure how much emphasis you can put on one trading day. And for that matter, gaps. There is a gap at the 1200 level I believe from late 2005......250 points away!!!! I believe we're stuck in a trading range for a few weeks with each week grinding higher in the short term. As for what tomorrow is going to bring, ain't got a clue!!Here's what i found interesting about yesterday and last thursday.
Last thursday the mkt gapped down and grinded higher to close top tick and yesterday was a carbon copy,
gap down and grind higher for a top tick close, so my bet would be on the horse named Korekson.
if the mkt gaps up on tuesday, look out below.