Trend Day Tuesday

Vishnu
I tried a similar thing and could not prove that narrow range days help to predict anything about the next day. neither direction, nor range. to me it seems to be kind of rumour about it. it might be that people just compare the following day with the previous one and therefore feel it is trending a lot or having extraordinary range.
maybe NR days help in determining early entry points for breakouttrading - just as happened today.


peace
 
Quote from VisionTrader:

I wish someone would do a study to see how many strong trend days and how many "up down days" there has been in a recent time period. I don't have the foggyist how to do it efficiently...
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you may want to check out ensign software to see how they do it
http://www.ensignsoftware.com/tips/tradingtips27.htm

Quote from VisionTrader:



Have you looked at the hourly chart of the ES. Looks like a dragon head getting ready to orgasm.
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I don't have the foggyist what that mean but it sound good.
 
Quote from Brandonf:

Well we did not get the gap, but we have seen a pretty wide range in the first 20 minutes of the day to the downside. This is very often something seen for a trend day.

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Actually the range for the first 20 minutes was pretty narrow, only 4.50 pts in the ES. But due to the surprisingly bad Consumer Confidence numbers at 10a we may well get your trend day after all.
 
I could see the elevator cables frayed just before 10:00 and entered short at 993. That was a nice quick pop for + 7 pts! I saw some action on the time and sales that finally pushed me to enter at 993. I also feel that some people are definitely getting info early!
 
Quote from AMT4SWA:

I could see the elevator cables frayed just before 10:00 and entered short at 993. That was a nice quick pop for + 7 pts! I saw some action on the time and sales that finally pushed me to enter at 993. I also feel that some people are definitely getting info early!
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i've noticed this over and over again, next time i'm in with those bastards:mad:
 
Quote from Ditch:



hey, i went short at 991 so i still got something, but i'm pissed off that there seem to be guys who get the info before it's supposed to be released.
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actually, i didn't even know that the #'s were coming out. my fault. i had an short entry signal at 100.00 on SPY, @953. all i saw was the range being broken shortly before 10, and the bids being lifted when this happened. its nice to know that you can just look at the charts to see whats coming.
 
Nobody is getting info early. That big spike was helped by hedge funds doing SAR. It's common to SAR below the low of the previous day.
 
alan
i know you have me on ignore. nevertheless: do you support the common view on the forecasting power of NR days?


peace
 
Quote from man:

alan
i know you have me on ignore. nevertheless: do you support the common view on the forecasting power of NR days?


peace
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I don't have you on a ignore list. I just don't followup in a thread when someone posts a opinion. I can comment on facts behind opinions, but not on opinions since we may use different facts.

My research shows NR tends to beget NR and WR tends to beget WR. Since there has to be a transition between the two, try looking for the transition periods. Try thinking in terms of NR with indecision such as a tight doji (open near close with tight range).
My stuff shows big moves tend to happen when there is a high degree of indecision.
 
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