Does anyone have an explanation for the gap between NQs vs Naz? Currently the NQs are - 48.00 and the Naz is - 17. Fair Vaulue is - 9, so technically the Naz is -28 compared to - 48 for NQ futures. That's a 20 point gap that has not closed one bit since market open which typically happens when a gap occurs. I understand there must be a ton of short interest in the NQs but there's no way this gap would hold thru the entire day. Tomorrow the NQMG (june) contracts will cease trading but that doesn't apply to this since the June and Sep contracts are almost at parity.
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Discrepancy Between NQ and Naz
- Thread starter Seanote
- Start date
The gap is caused by an exceptionally high close in the NQ futures yesterday afternoon at 4:15. During the 15-minute aftermarket trading period, ORCL announced that it handily beat earnings expections, sending NQ soaring. Then, after the 30-minute trading pause, when the minis reopened at 4:45, they had to immediately reflect dismal forecasts from AMD, AAPL and CIEN, which sent them plunging. All day NQ has been trading in a reasonable and standard 4-8 point fair value range above NDX ----- the problem you're having is that you are viewing the change in NQ from its extreme and artificially high level established very briefly at yesterrday's close.
they'll probably write books about that one... (NOT)
there are combinations of events that seem almost impossible to stage, that cause huge discrepancies between the close of one session and the begininning of another session.
most books I've read, recommend only day trading the EMini's. Those well capitilized enough to afford the full futures couldda/wouldda/shouldda been hedged to prevent or (mitigate) their losses.
hope they were....
there are combinations of events that seem almost impossible to stage, that cause huge discrepancies between the close of one session and the begininning of another session.
most books I've read, recommend only day trading the EMini's. Those well capitilized enough to afford the full futures couldda/wouldda/shouldda been hedged to prevent or (mitigate) their losses.
hope they were....
Originally posted by armaniman
The gap is caused by an exceptionally high close in the NQ futures yesterday afternoon at 4:15. During the 15-minute aftermarket trading period, ORCL announced that it handily beat earnings expections, sending NQ soaring. Then, after the 30-minute trading pause, when the minis reopened at 4:45, they had to immediately reflect dismal forecasts from AMD, AAPL and CIEN, which sent them plunging. All day NQ has been trading in a reasonable and standard 4-8 point fair value range above NDX ----- the problem you're having is that you are viewing the change in NQ from its extreme and artificially high level established very briefly at yesterrday's close.
Thanks for the detailed explanation. For some reason I thought CME used 4:00pm settlement prices for the close instead of 4:15pm so that would explain the gap after ORCL then AAPL's release.