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Hello John,
I haven't tried to code this observation but use it as one clue to how
the day might unfold--SP futures that is.
I originally got this from Ed Moore's course but have seen similar
observations elsewhere.
In his ideal case, price will make a minor high at 9:45 (EST; obviously
these times are not fixed), fall back a bit and make another higher
high at 10:15. He will then expect a rising market that day.
If however, the second high is not higher, he expects either a
sideways day or a down day. Furtehr price action will determine this.
All this falls in the category of tests/failures. Failures to follow
thru at 10:00-10:30 does seem to be esp important. Linda Raschke
watches tiki closely in that time frame as an indicator of
insitutional activity during that time.
--
Best regards,
Jim Johnson mailto:jejohn@xxxxxxxxxxxxxxxx
Tuesday, April 02, 2002, 5:22:17 AM, you wrote:
JC> Certain authors have written about the subject. The one I have been
JC> casually following is an observation that the S&P market starts to
JC> establish two major moves , one at 10 AM and another at 2 PM.
JC> I have just been observing the 10 AM move by logging in the cash
JC> value at 10 AM and again at 10:15 AM. In 4 of the five days followed
JC> the direction up or down movement was sustained to at least until
JC> 11:15 for what appeared to be a profit.
JC> Has anyone tried to build a system around anything close to this
JC> concept.?
JC> Ben made a beautiful post on calls with charts and all...no comments
JC> from the peanut gallery likely because they did not understand it.
JC> P.S Quick response to recent blue sky and green grass people:
JC> The preponderance of sky particles are in the blue wave length and
JC> not violet. I stand by my explanation previously posted . It is not
JC> complicated.
JC> The plague was the Bubonic plague spread by rats somewhat like vermin
JC> multiplying on this board as anticipated.
JC> Yes I know I had a typo of mnemonic.
JC> Now if only you could keep a trading post going as long as nonsense
JC> this forum would be great again.
JC> Sincerely,
JC> John
JC> To unsubscribe from this group, send an email to:
JC> realtraders-unsubscribe@xxxxxxxxxxxxxxx
JC> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
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