When are trend days more likely?

When are trend days in the market most likely to happen? When are days when the market closes at or near high's most likely to happen? I can't really see any edge in holding your position to the close unless there is some reason to believe that we will be closed at or near high's of the day. The only times I see us having a better chance of having a trend day is when important economic data comes out such a CPI, GDP or non-farm payrolls. Is there anything else I should be looking for?


Thanks for all the responses.


Mike

 

That's the million dollar question...

 

Actually... it's the trillion dollar question.

:eek:

 

There is a 50% chance that a trend day usually follows three straight days of chop.

 

Actually, no way to tell in advance. You'll have to figure it out on the fly.

 

Do you guys not feel like there is any edge at all in the theory that it is more likely to close on the high's of the day following important economic data?

 

really? How did you determine that? Can you give me your definition of chop and trend day?

 

The market is "likely" to close on the high if it exhibits "strong up psycho" all day long..... with or without econ data.

 

Yeah.. chop is when YM is stuck in a 45 pt range.

A trend day is when there is a >100 pt difference from the high and the low of the day.

 

I'll respond to you because you have been around longer that protrader (no offense).

If I can not only answer that question for you but prove it to you will you pay me a million dollars?