Efficient Markets


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  • BruceM
  • 27-Dec-2007 at 9:06 AM
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Look at the gap on this 5 minute RTH chart of the S&P...just below 1505 at 1504.50...note the triples also....The market will find a way to "fill in" these holes in the charts.....After being "filled in" in the overnight session this same point became initial resistance in the day session the following trading day...these holes will occur sometimes in low volume trading

Click image for original size
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  • BruceM
  • 27-Dec-2007 at 9:12 AM
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Now here is one that I mentioned yesterday in the Christmas EVE thread that formed in Wednesdays trade. It happened at a price of 1501.50.....note the gap...where one 5 minute bars open and range doesn't include the close of the previous bar...

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This next chart shows what just happened in the overnight.....very cool..I drew a line at the 1501.50.......





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  • BruceM
  • 27-Dec-2007 at 9:45 AM
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In general I find these "holes" less effective when they develop in the overnight session...the same would be true with the concept of triples...I give much more of a bias to anything that develops in the CME day session
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  • gio5959
  • 27-Dec-2007 at 9:49 AM
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Thats Awesome Bruce !
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  • gio5959
  • 27-Dec-2007 at 11:33 AM
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Here's what an 'Inverted' Dragon Pattern looks like

The head has also reached the 3DBP (3 day balance point) of 1497.75 - which is also fib 1.27 from last major pivot (the back)

* A BruceM triple has been created at 1500.25



[file]inverted_dragon.jpg,126,,0[/file]









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  • BruceM
  • 27-Dec-2007 at 11:42 AM
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good eyes..Gio...trying for those triples from 96.75 for the 1500 retest
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  • BruceM
  • 27-Dec-2007 at 11:45 AM
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this low volume is obvious high risk...and real boring!! I can barely squeeze out a point on this trade so far...but bias will remain up due to triples
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  • gio5959
  • 27-Dec-2007 at 12:01 PM
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I'm keeping an eye on this possible 123 pattern

might be the trigger to get us to ur triple



[file]ES_123.jpg,126,,0[/file]
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  • BruceM
  • 27-Dec-2007 at 12:09 PM
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i added at 96.25 to runner contracts..in a normal environment I wouldn't be as concerned but the high volume players may not come back in..98.75 is first initial target on add ons ..then the triples
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  • gio5959
  • 27-Dec-2007 at 12:17 PM
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I have market reversal at approx 11:15cst - maybe we get lucky and it shoots up here

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  • gio5959
  • 27-Dec-2007 at 1:19 PM
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Tons of volume came in at the ES 11:35cst bar - think i'll do a buy stop 1495.00
Today in the ES.

Click image for original size
ES 5 min chart on 27-Dec-2007.


and the DJIA

Click image for original size
5 min chart for DJIA for 27-Dec-2007.
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