Lots of discussion about ticks yesterday.WEEKS ago, i pointed out a relationship that has ocurred with incredible accuracy over the last 5 years. Anytime the closing ticks on the nyse is above 800 a significant decline ensues within two trading days.last time , i noticed this i posted it i think aug. 15.Two days later we hit 1303.50 on the e- mini and slammed down about 40 points.Yesterday i noticed plus 853 near the close!I wish some one could backtest this as i have no capacity to do so. The accuracy seems incredible, but more study is needed to be sure.Im not even sure what we closed at on the ticks , but if it was above 800, look out below!
Originally posted by CharterJoe
Thats a good question, but I think the answer is yes. But will it go to 1050 before it fills the singles? It was like the gap we had on 8/04 I was waiting for that to get filled and it took a month. there's also a gap in the Cash and ES @ 850 levels that hasn't been filled. So I don't know but I say its better to be in the direction of the exhaust runs then banking on filling it in.
Gap filled at 847, LOL!!! Been waiting for it for 6 years.
By the way, Joe, theres going to another gap to be filled come Mon. lol!...stay tuned!