Posted by DigiNomad on 19th of Apr 2024 at 11:55 am
Definitely filled on my end. I was trading it actively when it
happened. I'll never get why people ignore so much price
action on an instrument that trades 23 / 5...but to each his own.
And what's this "cash" thing when referring to SPX? Is
there some way to buy SPX shares that I'm not aware of? I'm pretty
sure it's only options, all the time, no matter if it's RTH, ATH or
GTH.
Posted by elementsix on 19th of Apr 2024 at 12:04 pm
Gaps - You bring up a good point Digi...
Love to hear Matt and Steve chime in.
Per traditional thinking, the gap holds because the market
closed at 4pm and opened at 9:30, which is the lions share of
volume. But it's hard to ignore that gut wrenching dive we took
overnight. With 23/5 trading, gaps should be nearly non-existent,
except for weekends. (e.g. crypto doesn't experience gaps in the
same way).
Posted by DigiNomad on 19th of Apr 2024 at 12:10 pm
I've decided that they are less relevant but they still mark
meaningful levels on my 23 / 5 charts because they are typically
characterized by higher volume and larger price movements.
I've seen too many upside and downside targets achieved and
gaps filled overnight (along with the corresponding price action
that was expected) to think otherwise, but there's always going to
be some disagreement on this point.
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Gap? Did we get low enough to fill it a ...
Posted by kingpin15 on 19th of Apr 2024 at 11:51 am
Definitely filled on my end.
Posted by DigiNomad on 19th of Apr 2024 at 11:55 am
Definitely filled on my end. I was trading it actively when it happened. I'll never get why people ignore so much price action on an instrument that trades 23 / 5...but to each his own.
And what's this "cash" thing when referring to SPX? Is there some way to buy SPX shares that I'm not aware of? I'm pretty sure it's only options, all the time, no matter if it's RTH, ATH or GTH.
Gaps - You bring up
Posted by elementsix on 19th of Apr 2024 at 12:04 pm
Gaps - You bring up a good point Digi...
Love to hear Matt and Steve chime in.
Per traditional thinking, the gap holds because the market closed at 4pm and opened at 9:30, which is the lions share of volume. But it's hard to ignore that gut wrenching dive we took overnight. With 23/5 trading, gaps should be nearly non-existent, except for weekends. (e.g. crypto doesn't experience gaps in the same way).
Are gaps becoming less relevant now?
I've decided that they are
Posted by DigiNomad on 19th of Apr 2024 at 12:10 pm
I've decided that they are less relevant but they still mark meaningful levels on my 23 / 5 charts because they are typically characterized by higher volume and larger price movements. I've seen too many upside and downside targets achieved and gaps filled overnight (along with the corresponding price action that was expected) to think otherwise, but there's always going to be some disagreement on this point.