Its not the markets fault its my method. its more about giving more than 5 points before changing direction....
We had 3 double bottoms today all with RSI divergence. The 1st and 3rd also made a bigger double bottom also with RSI divergence. Must be a new record...
Here's sumthin that may be of interest PRICE LIMIT RULES FOR STOCK INDEX FUTURES Modification of 5% Overnight Price Limit Rules Effective Sunday, January 11, 2009 for trade date of Monday, January 12, 2009, CME Group will modify the rules regarding the 5 percent overnight price limits for U.S. equity index futures traded on CME Globex during the ETH (Extended Trading Hours) session. These modifications are designed to help preserve the market's ability to provide price discovery prior to the opening of the underlying cash market in all market conditions, without requiring a change in the overnight price limit. Currently, if the 5% overnight limit is reached during the ETH session, and the market remains locked-limit until the opening of the Regular Trading Hours (RTH) session, the market's capability to provide price discovery before the opening of the underlying cash market is negated. Starting Jan 11 however, if the market is locked-limit as of 8:15 am Chicago time (15 minutes prior to the start of the RTH session) and still remains so at 8:25 am, the market will be halted and put into pre-open state. This will provide an Indicative Opening Price (IOP) in anticipation of a re-open on RTH, with RTH limits in place - and effectively re-establish the market's price discovery capability. Which products are affected? The rule applies to CME & CBOT equity index futures including contracts based on: S&P 500 NASDAQ-100 Dow Jones and 8 lesser traded US equity index futures For more information visit www.cmegroup.com to view the Price Limit Guide.