ES Journal - 2015

artemstreb said:
pls explain how OIL price help me trade S&P?
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They are extremely well correlated right now as opposed to last year when that wasn't the case. If u see an area where oil will breakout hard, the ES is going to follow it. You are doing yourself a disservice by not following it now if u are an ES trader. Just my 2 cents
 
EsKiller said:
They are extremely well correlated right now as opposed to last year when that wasn't the case. If u see an area where oil will breakout hard, the ES is going to follow it. You are doing yourself a disservice by not following it now if u are an ES trader. Just my 2 cents
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ok, ty. what is logical connection or correlation?
 
EsKiller said:
They are extremely well correlated right now as opposed to last year when that wasn't the case. If u see an area where oil will breakout hard, the ES is going to follow it. You are doing yourself a disservice by not following it now if u are an ES trader. Just my 2 cents
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As a long time lurker take it fwiw, but EsKiller is right on the correlation. Having the CL on the 2nd screen has saved me points by helping decide to get out earlier. Just take a look at what %age of the index is oil related. That's the reason the "Earl" is in charge of some moves.

Nichevo
 
artemstreb said:
ok, ty. what is logical connection or correlation?
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oil prices are unstable. Lots of fear that collapsing oil prices can lead to economic downturn. To successfully trade ES or NQ, you need to always have the commodity / stock / currency that is most in the news b/c the big players use that for speculative purposes in the stock market
 
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