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I did a quick test on 2 back-to-back gaps (H < yesterday L or vice
versa)on NDX cash and NASD comp. In every case on NDX the move
continues in the direction of the gap, often after 1-3 days of
correction. But there were not many instances before the last few
years (Futuresource and CSI data) so there may have been a change in
the way data was kept.
So I tried the comp. and it is overwhemingly the same -- not 100% but
certainly over 90% accuracy forecasting further movement in the
direction of the gaps. (there were a lot -- I didn't count them.)
Tues/wed gaps met the condition, so based on gap history odds favor
lower prices.
Chris
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