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Dennis,
I define a gap up open as when the Open is greater than the Close of the
previous day. So for Friday a gap up open would be where the
S&P 500 futures opens at a price greater than 1291.50. According to my DTN
quote the open was 1290, so the day is now considered a
gap down open day with the quoted odds. Since at this point there is no
lower low one can assume that if the market makes a higher high then
there is a good bet there will be higher high before a lower low. ( the
Larry Pesavanto, 80-90% of the time the SnP opens near the high or low of
the day).
Don Thompson
----- Original Message -----
From: "DH" <catapult@xxxxxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, May 18, 2001 7:58 AM
Subject: Re: [RT] Follow-up on the long mini spoo trade
> Don wrote:
> > If there is a gap up at the open look for a higher close.
>
> Don, how do you define a gap up in your stat runs? Is that measured
> relative to the close or the high?
>
> --
> Dennis
>
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