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The 8:00 am NYT wicks are created by an internal clearing process among the exchanges/market makers. Bankers from the old days would clear cheques accepted/paid on behalf of other banks to increase efficiency, speed and better customer service. This is all internal and done at low transaction point of the day for the previous day. It has its roots when paper cheques were heavily used. Its all electronic now but same concept. The horizontal levels it creates existed before and are price ranges at which transactions happen during the previous day. Its very logical if u are a central banker from the old days. Its like an Automated Clearing House (ACH) software solution process except its for STOCKS. In my pervious life was a software dev/consultant/project manager/head cook and bottle washer for the integration and implementation of retail banking and investment banking systems and networks, Thor calls it "Tin Foil Line" ........ bcoz he was applying a conspiracy theory to its creation of the wicks. Google Tin Foil hat. Ask him during his sessions. But serious regulations and compliance restrictions guide the MM who MUST operate ethically, bcoz they are guaranteed a profit for providing Market Making functions to the market. Market Makers are almost like a monopoly (e.g. OPEC...oligopoly / monopoly / cartel, ur choice).