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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Chip McVickar who wrote (43567)	1/26/2001 8:47:32 AM
From: SE	Read Replies (3) \| Respond to of 44573

The two best matches show an early high between 9:30 and 9:40 with a late low between 15:20 and 15:40. One of the days had a tail to the close. These were both one way down days. I also found two days that had a high in the exact same time frame, but showed a low between 10:15 and 10:30. These days then ran up to the close making them one way up days. A third pattern showed up that had a later LOW point at 9:50, a high at 11:10 and a low at 15:15, an A shaped day, that had a tail to the close. None of the days had a true buy gap, like we are likely to get today, and the three days that did have true buy gaps on today's cycle day showed all three patterns, so that gives us no clue as to what to expect. In all cases, if you can identify the opening high point, all days dropped some from there. In some cases it was the open that dropped to low before 10 or shortly thereafter, and then the day ran up, in others it was the high point of the day. In any event, I am looking for an early short, but with a cautious eye towards the opening buy gap. The short very well could be the gap closure. Intention would be to hold all day, but caution will be the watchword from 10:15 to 11:20.