S&P 500 Corner Part II
Tips, Tricks & Techniques
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|Example 2: 5 minute bar chart of S&P 500 (SPH8) on January 8, 1998|
January 8th, 1998 was a cycling day that ended with a deep selloff that set up the 3000+ point drop the next day.
Example 3: 1-min bar chart of S&P 500 (SPH8) on January 9th, 1998.
January 9th, 1998 was the fourth largest selloff in history. The Dow closed down 222 points and the S&P closed down 3,200 points.
On very volatile days, I pay more attention to shorter time frames - the price patterns and volume characteristics are, to me, much more apparent. It is critical though, to resist over-trading when tracking price on very short-term price bars. I find it advantageous to occasionally look at the longer term bars for the larger perspective.
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