ES as Indicator?

I have been using the ES overnight session as a leading indicator of where I think the S&P and Dow will open and head the next morning.

Once the securities markets open in the morning though, does the emini price still lead the S&P and Dow or is it the other way around?

I havn't been watching them long enough to figure it out.
 
It's variable - sometimes futures leads equities and ETFs, other times equities lead futures and ETFs, and still other times ETFs lead equities and futures

Let's face it - if it was a simple as "oh, the ES always leads the cash" it wouldn't take any skill to make money trading
 
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