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Joe Doaks Predicts the NQ Close
- Thread starter Joe Doaks
- Start date
i'm short is THIS the top?
Quote from killthesunshine:
i'm short is THIS the top?
My observation: the longer it takes on "gap and go" days (with certain characteristics) to trade up to a few multiples of the early morning's move, the more likely the market will continue trending directly into the close.
If it gets there before noon, probably there will be a retrace later in the day. If it behaves like today, straight through the close give or take.
Barring a volume blow off where the second push to new highs is on lower vol than the previous.
Quote from Samsara:
My obseration: the longer it takes on "gap and go" days (with certain characteristics) to trade up to a few multiples of the early morning's move, the more likely the market will continue trending directly into the close.
If it gets there before noon, probably there will be a retrace later in the day. If it behaves like today, straight through the close.
Barring a volume blow off where the second push to new highs is on lower vol than the previous.
Very good. But finding those "certain characteristics" is a bitch. But don't hold past the close. It's a sucker play.
Quote from Joe Doaks:
A purely quantitative prediction, and untradeable. Name your number.
http://www.google.com/search?sclien...l=&oq=&pbx=1&bav=on.2,or.&fp=ef34c9a9ed856910
Oh. Thanks. Never seen any evidence of that here before. Satire is my game.
Quote from Joe Doaks:
Very good. But finding those "certain characteristics" is a bitch. But don't hold past the close. It's a sucker play.
Ah, there are ways to identify in the first 10-15 min if there is some probability of those certain characteristics.
Good call on not holding past the close -- never tried.
Someone I've been looking into is Mark Fisher (and I never follow any person's "method", but something about what he does makes sense to me). One potential overnight long occurs when price trades down a certain extent early then rapidly rallies to significant highs late in the day, trapping shorts. Never framed things that way myself, but it's worth studying to me.