DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Teresa Lo who wrote (5057)	10/27/1999 10:34:00 AM
From: Matthew L. Jones	Read Replies (2) of 18137

S&P question. I am currently paper trading a system I hope to use to daytrade the e-mini futures. As some of you may know, the e-mini trades overnight as well as the day sessions on globex. Here is my question: Using a 30 minute chart and a 5 minute chart and a stochastic on the 30 minute chart (14,1,3) I get an entirely different technical picture looking at the night session as opposed to only looking at the day sessions. Looking at the "whole" picture, the S&P's bottomed about 10PM last night and have been in a steady climb since. Stochastics are at overbought. 10ema is just crossing (upward) the 50ma. Looking at the day sessions only, stochastics are over sold and the futures are clearly in a down trend. Which picture is the "proper" picture to look at? It seems that the uninterrupted chart "should" be the right one, but then most traders are only looking at the day session charts, so the apparent downtrend becomes a self-fulfulling prophecy. Any thoughts? Matt

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