I noticed that market tends to have the carryover rally for the first two days in the week and starts to sell late in the week. Anybody got statistics for this?
Days After an Up OpEx Week
Started by
redfoliage2
, May 22 2007 11:48 AM
2 replies to this topic
#2
jjc
-
- Traders-Talk User
- 2,886 posts
Member
Posted 22 May 2007 - 12:53 PM
Red,I noticed that market tends to have the carryover rally for the first two days in the week and starts to sell late in the week. Anybody got statistics for this?
One thing I did look at last saturday was:
Frenzied closes on OPEX friday like the one we saw last friday (overbought on 30 min,overbought on 60 min)
usually resolve down Monday & into Tuesday of following week. The number of samples is not very strong (8 if I remember correctly since 1998). The results were showing 65%-70%, but again few samples.
The brief downdraft on monday afternoon and the opening this morning resolved all overbought conditions.
I think the times favor being long... So if your going to error...
#3
redfoliage2
-
- Traders-Talk User
- 18,053 posts
Member
Posted 22 May 2007 - 01:44 PM
ya, it's hard to say at this moment. But my system indicator telling me this is not a Buy.Red,I noticed that market tends to have the carryover rally for the first two days in the week and starts to sell late in the week. Anybody got statistics for this?
One thing I did look at last saturday was:
Frenzied closes on OPEX friday like the one we saw last friday (overbought on 30 min,overbought on 60 min)
usually resolve down Monday & into Tuesday of following week. The number of samples is not very strong (8 if I remember correctly since 1998). The results were showing 65%-70%, but again few samples.
The brief downdraft on monday afternoon and the opening this morning resolved all overbought conditions.
I think the times favor being long... So if your going to error...
