Just 2 years after we first noted it, the mainstream media has become fascinated with the performance of stocks in the last 30 minutes of the US cash session - the 330 Ramp! But, as with anything that becomes widely known (apart from "never start a land war in Asia" and "stocks are always cheap"), the exuberant last 30 minute ramp has been superseded by another... Welcome to The 2am Europe Open Ramp.

As Nanex's Eric Scott Hunsader notes, a stunning 22% of all S&P 500 futures gains have occurred between 2am ET and 3am ET.

22% of eMini gains since the start of the bull market occurred between 2am and 3am Eastern time! $ES_F — Eric Scott Hunsader (@nanexllc) June 16, 2015

But wait, it gets better, because going even further back reveals that in the past decade 49%, or half of all stock gains, have taken place in just that one late hour, right before Europe opens for trading!

49% of eMini gains since 2005 occurred between 2 and 3am ET! $ES_F pic.twitter.com/fn6U54x8Sr — Eric Scott Hunsader (@nanexllc) June 16, 2015

The offset? the 7:00am-8:00am block has shown the consistently worse performance in the past decade.

So with fundamentals not working since central banks took over, why not do a chronopair trade, going long ES at 2:00am Eastern for one hour, offset by a short in the market between 7 and 8:00am on every trading day.

It may not beat the artificial market, but with a 10 hour work week just think of all the extra free time.