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Although these days there is hardly a clear distinction between pre-market,
normal, and after-hours sessions, with all these morphing into one huge
contiguous continuous session from Sunday night Far east to Friday afternon
EST, one always thought that when we refer to market making a high or low, we
usually refer to the normal session, e.g. 9:30 am to 16:15 pm for S&P futures.
So, how about today? Those lows were made pre-market, and market closed at the
highs, 3 to 4 % higher for the indices. Would you consider those lows to be
"THE LOW" on a ST or IT basis? In most similar cases it hardly matters because
the actual normal session low would not be too far away from the pre-mrket
low....not today! Reason I ask is to define the low and project fro mthat point
....
Regards,
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