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New highs and lows are a lagging confirming indicator. A/D issues and
especially, A/D volume are coincident indicators. While the price move from the
lows was impressive, issues and volume did not reflect the size of the price
reversal so we will have to await another day to see if it happens.
Earl
----- Original Message -----
Sent: Thursday, July 07, 2005 6:55
PM
Subject: Re: [RT] LOWS made in pre-market
session: are they "valid" ??
Hello
Even when you look at the cash
today's candle is VERY bullish
I never use data from before 930
am in my testing
I do not trade in this hours
(if I have a position
trade in sp05u,) then I just enter in globex my stop
loss
at 20 e mini for 4 big contracts,
add to the
bullish candle a bullish p/c ratio and you have the making of a
bullish day
the fly in the ointment is: new highs decrease
drastically
Ben
----- Original Message -----
From: "Deosaran
Bisnath" <deobisnath@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>;
<e-mini_traders_anon@xxxxxxxxxxxxxxx>
Sent:
Thursday, July 07, 2005 8:38 PM
Subject: [RT] LOWS made in pre-market
session: are they "valid" ??
> 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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>
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>
>
>
>
>
>
>
>
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