Here are some threads on futures as leading
indicators, which contract leads, etc. I think the
consensus is nothing leads by much, but it helps
to watch futures to see quick changes in market
sentiment.
michaelday: âWhich are the leading indicators: eminis or full size contracts?â
If your asking if the large contract leads the Mini or vice versa, then my response would be that the locals and the dealers in the pit control much of the direction during RTH. Of course, the same locals and dealers are now executing through Globex2, as well. Thus, offers and bids in the pit may simply be a diversionary tactic, at times, while the real show goes on in the Mini.