Unless the futures are providing a very strong morning lead (say +/-50), then they seem to have very little predictive power for XAO on the same day.
Similarly, the DOW has almost no predictive power. Sometimes the two indices do come strongly into synch, but it's not reliable.
I wonder how well the first 10 minutes of trade predicts whether the Ords finishes above or below the line. Today is another one of those +/-/+/- days. But as a general rule, I would have thought the opening swing would be reasonably predictive of a + or - close for the index. What do you think?
Anyone with XAO tick data test this?
buy = 10:10 am.
sell = close