'Markets In Profile': Detailed Book Review

[winnie]

Thanks for sharing your view

[Frank]

The core high-level intraday model says that more often than not, the market will choose a direction and then continue that direction until the last hour. But let's quantify this tendency.

Since Thanksgiving, the 110 trading days have seen 70 days (64%) that had this tendency. That is, the high or low for the day was made AFTER 3pm. If we add 'Period L' into it as well (2:30pm or later), it becomes 80/110 -- or 73%.

This is not a forecast of the future -- simply a statement of fact about the last 110 days.

I am still trying to figure out how to actually use this tendency. But the vague idea is to think that on any given day, once the market has chosen a direction --- more often than not, the S&P's will tend to continue in the chosen direction until the final hour.

[Frank]

FOMC Week and Options Expiration Week Will Tend to be screwy. Here is review for the week:

[winnie]

Dear Frank,

Have you find out that in the afternoon period , there is always new intraday high or new intraday low ?
Thanks for sharing your study .