ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Last time the record holder was 2 10-min bars the mkt run up 40 points by close.
Can we break the record this time?
Can we break the record this time?
Sometimes it pays off to be low tech. I am not sure how they count it, but at Bigcharts the open was 895.22 ( not really true) and we closed that cash gap fine... The real gap was about 11 points higher...
Compared to that after the open we were 45 points lower, that was a pretty decent effort at gapclosing...
A record the other way round - down 20+ pts in 5 min :eek:
like i said we did not have a rally because the cash was leading the way up/sideways. futures mkt continued the overbought range sell off. technically we traded sideways i.e. we did not close above the intraday resistance nor did we close below the 15min range in the cash.
..........now the futures is another story.
.i'm sorry i don't see your gap?
yesterdays $SPX close = 908.11
todays $SPX open = 895.22
todays $SPX High = 896.30
the cash did not close the gap. ES Z8 does not really gap up/down like that since it trades basically 24/7 around the clock. don't get me wrong though. there have been instances where the futures did gap but not like the $SPX.
When trading the ES futures it has been my experience that it is better to key off of the cash index. remember, cash i.e. stocks are more efficient than futures as far as price discovery is concerned IMHO.
I don't see how you derived at this conclusion. I've been taught the real dog is the cash index and the futures is just its tail. Sure, the tail will wag the dog once in a while, but there's only so much you can do with the futures.
At any rate, a real shitty day on this side of the net: shitty forecast, shitty trading, and to top it off, my dog shit on the carpet. Nevertheless, I still managed to end the day in black, thanks to that last minute selloff.
Be nice everyone!
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