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!
ES really getting a nice lift off that pivot. I am going to short @ 1217.25
Out @ 1216
im in for one only.. tight 2 point stop
Notice on the last bar the two fork lines crossed at the close and the markets closed right on this point. I was reading that when this happens you can expect a gap in the direction of the prevailing fork. Should have said something before hand and shorted, I'll try harder next time.
out at 1216.50...will watch the open
selling 2 @1222.75
Long @ 12.5, I'll double up around 1209
Avg of last 7 Ticks was -700 (thats very high), with a -1000 tick count, and counter trend first 30min was the reason I bought. Out near open price 17.75 +5.25
By the way, Joe, theres going to another gap to be filled come Mon. lol!...stay tuned!