Classic Times ?
Nov 25th, 2007 by Trader-15
I was looking at the Intraday data (1 min and 5 min) for the S&P500 and SSO and decided to check out “classic times”. Thought I’d share this (See tablebelow)
Disclaimer:
Please note that this is just my interpretation of 9 days of data. Please Use and/or discard at your own discretion.
Notes:
- “Major directional change” is when higher highs/higher lows (or the opposite) changes direction
- “Secondary directional change” is to satisfy my curiousity as to why I often got knocked out of my trades in the early afternoon.
- 1st and final flip column - self explanatory
- Column 6 is where there is a price directional turnaround after 3pm
- Column 7 is where SSO volume increases to greater than EMA(20 bars) after 3pm. Seems to confirm Column 6.
- Blanks are where I can’t decide …
The above is probably well known to experienced traders … but I had to find out … 
… enjoy …
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Interesting..a day’s action can be summarized into four main movements. Thanks for sharing.
I am not sure it’s actually 4 main movements/day as you observed above. (but now that you’ve mentioned it, might be worth re-examining). (It’s 4 main columns because I was focussing on specific time periods )
Note that I left out the 10 am (+/-3 mins) move that seems to happen quite often.
I sometimes use the ~3:20pm (program trading?) period to exit my day trade positions. eg. If I am in the money, I exit prior to the move to protect my profit.
( Ofcourse, it can be “dangerous” generalising like I am doing above, there are so many exceptions …. )