Oh, so you can tell me what could possibly happen on Friday by looking at 1 minute cum tick, eh? Where's our resident stat man, @Laissez Faire? Need to hear his advice going forward.
Traded /MES the last hour chop with slightly negative result but practiced loosening up on my stops with more comfort. It's easier to do when it won't hurt much. I think I will play in that sandbox until I am ready to put on the big boy pants.
Anybody ever notice that 10 minutes before the close is almost always a dump and 6 minutes before is often a substantial rally? Don't know why that is but it is consistent.
10 and 5 minutes before the close MOC orders from both NYSE and NASDAQ are published, thats the cause of those movements.
I'll let you know by tomorrow. Right now, I'm on the fence. The market looked poised to head down when I made that post, but the damn thing reversed on me. But as long as it doesn't spike above 3925, I'm gonna sit tight with my tinfoil hat on. Otherwise, I might need to reevaluate.
OK thanks, what is MOC? I need to concentrate on these times of day when they are approaching. I have noticed the the same thing happening over and over again at these times.