Intraday market timing stats - ASX 200

[charttv]

I have been compiling data on the daily high and low times of the ASX 200 and plan to branch out with this form of analysis into other markets soon. My discoveries have been rather eye opening to say the least with the market making its low on opening 27% of the time in the last 170 or so sessions and the market tending to make its low within the first half an hour of trade roughly 50% of the time.

A synopsis of the data I have been analysing can be found on the below link. I plan on updating this data and adding stats like these for other markets soon.

http://www.pollux.biz/charttv/sheets/asx200dailyhighandlows.htm

 

[tech/a]

This shows then a high correlation with the DJIA.

Wonder at what point during trading of the DJIA that the SPI reaches it's highs during night trading.

Would you not be better off trading the SPI overnight based upon the performance of the DJIA.

In other words use the DJIA as your indicator.

 

[charttv]

Hi Tech/A

I have yet to run any stats on the DJIA. Do you mean to say that the DJIA tends to make its session highs and lows within the first and last half hours?

If this is the case, do you think the DJIA can be used as a leading indicator for the SPI night session?

 

[wayneL]

If this is the case, do you think the DJIA can be used as a leading indicator for the SPI night session?

It is absolutely a leading indicator for the SPI night session.

But if you want to trade nights, why not trade ES or YM et al?

SPI is very illiquid in the SYCOM session... 10 pt spread is not uncommon.

 

[tech/a]

Wayne I was looking more at getting set O/N to get the best buy/sell on the day sessions.

Charttv
Seems to from what Ive seen and as it does drags the SPI with it.

 

[charttv]

tech/a - now I get ya! Nice thinking indeed! I will look into it.

 

[tech/a]

Using yesterday would it not have been best to hold longs over into the US session and sell in the first hr of US trading.

Then as some of the contrarians seem to trade short from that high (Or close to it)---the SPI.
I presume youd be short then on our open with a stop at the high of the night session.
Youd have sold pretty high so should have plenty of room.
Havent the time to match the SPI chart