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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: SE who wrote (18009)3/9/1999 8:23:00 AM
From: Patrick Slevin   of 44573
 
I do not think that most charts "show" SPX gaps. I believe this is because the SPX does not start trading until a high percentage of the issues are Open, perhaps it's 80% but I do not recall.

So, there is a "dead" tick at the prior day's Closing Price for a few minutes then whammo and it's up a bunch. There was a gap, but you won't "see" it. As far as the Chart program is concerned it almost always Opens at the prior Close.

This is what I think, anyway.

As far as filling the gaps, I think perhaps later in the week if at all. The second pattern consisting of a drop into mid-day probably won't be strong enuf to accomplish that. The first pattern, the higher percentage play, would not even come close.
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