I have written in my model's guide that
"Market's psychology can explain how the crowd could react dramatically to some events but in details it does not explain everything for example intraday price actions during the so called globex electronic market where there is only a few participants and especially market makers even when regular hours trading is closed whereas globex goes on. Nevertheless the behavior has the same pattern and our equations using only past datas and not real time datas has the same power of prediction during globex session."
As an illustration look at globex of Dow Jones even during the weird thursday session:
<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=205051>
the picture has been taken directly from cbot. It made a low of 7691 at 00:25 whereas the model calculated a theorical low of 7692.02. At 00:25 where are the mass people ? They are sleeping
so it cannot be them that drive the market in REALITY. Mass people are DRIVEN by the market not the contrary 
.
"Market's psychology can explain how the crowd could react dramatically to some events but in details it does not explain everything for example intraday price actions during the so called globex electronic market where there is only a few participants and especially market makers even when regular hours trading is closed whereas globex goes on. Nevertheless the behavior has the same pattern and our equations using only past datas and not real time datas has the same power of prediction during globex session."
As an illustration look at globex of Dow Jones even during the weird thursday session:
<IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=205051>
the picture has been taken directly from cbot. It made a low of 7691 at 00:25 whereas the model calculated a theorical low of 7692.02. At 00:25 where are the mass people ? They are sleeping
so it cannot be them that drive the market in REALITY. Mass people are DRIVEN by the market not the contrary .