Having watched both the Qs and NQ over a long period of time, I don't think there's any question that NQ is the more reliable indicator both in terms of speed and accuracy. Sometimes the Island boys try to front-run the QQQs, giving an impression that they're ahead of the market, but they are wrong a fair percentage of the time when they do that. NQ is far less subject to the kinds of manipulation that market makers ---- even in a tracking stock ---- are sometimes trying to pull off. So either NQ is faster than QQQ or the QQQ prices are questionable and not necessarily indicative of true value. (And for trading purposes, in my view, NQ is a far superior instrument to the QQQs ---- much smaller spreads and significantly faster executions.)
NQ vs QQQ vs COMP
- Thread starter roger2
- Start date
Dustin: âFirst the S&P futures pit moves. Then the stocks react. Then the comp is recalculated from the values of those stocks.â
I have found it very valuable, as a futures trader, to monitor specific stocks in both indexes. How these stocks trade and react has, with favorable conditions in the futures, given me a lead on the futures.
Steven9: âPlease keep in mind that NQ are futures on the NDX (Naz 100). COMP is the whole Naz index.â
Not sure if the above was acknowledged but it is important for traders to know.
Armaniman: âThe futures - NQ and ES - are amazingly accurate leading indicators of where the indexes are goingâ¦â
Unless you are receiving âfastâ cash index quotes some vendors are quoting the indexes at about 1-print/15 secs. The âfastâ cash quote jumps around as fast as the Mini.
I have found it very valuable, as a futures trader, to monitor specific stocks in both indexes. How these stocks trade and react has, with favorable conditions in the futures, given me a lead on the futures.
Steven9: âPlease keep in mind that NQ are futures on the NDX (Naz 100). COMP is the whole Naz index.â
Not sure if the above was acknowledged but it is important for traders to know.
Armaniman: âThe futures - NQ and ES - are amazingly accurate leading indicators of where the indexes are goingâ¦â
Unless you are receiving âfastâ cash index quotes some vendors are quoting the indexes at about 1-print/15 secs. The âfastâ cash quote jumps around as fast as the Mini.
tymjr: 'Unless you are receiving âfastâ cash index quotes some vendors are quoting the indexes at about 1-print/15 secs. The âfastâ cash quote jumps around as fast as the Mini.'
are the cash index quotes referred to the SP & ND? and if so, are these the ones which should be of the "fast" variety?
put another way, are there vendors who deliver the e-minis at 15 sec intervals? or is this not something to worry about?
again, thanks to all...
PS: tymjr, unless it is a secret (i'll understand), which stocks do you feel "given me a lead on the futures"?
PPS: tradex21, what do you mean?
are the cash index quotes referred to the SP & ND? and if so, are these the ones which should be of the "fast" variety?
put another way, are there vendors who deliver the e-minis at 15 sec intervals? or is this not something to worry about?
again, thanks to all...
PS: tymjr, unless it is a secret (i'll understand), which stocks do you feel "given me a lead on the futures"?
PPS: tradex21, what do you mean?
Armaniman: âNQ is a far superior instrument to the QQQs - much smaller spreads and significantly faster executions.â
I can attest to the fact that there is virtually no liquidity if you are in the right place at the right time. I struggled with the Qâs not because I was wrong often but because I would either have to pay up considerably if I wanted a position or risk missing the move. By the time I finally figured out how to trade it I was so damn frustrated I just went back to the futures.
I have no doubt that there are excellent traders doing well in the Qâs. My issues may relate directly to my trading methods or other issues.
I can attest to the fact that there is virtually no liquidity if you are in the right place at the right time. I struggled with the Qâs not because I was wrong often but because I would either have to pay up considerably if I wanted a position or risk missing the move. By the time I finally figured out how to trade it I was so damn frustrated I just went back to the futures.
I have no doubt that there are excellent traders doing well in the Qâs. My issues may relate directly to my trading methods or other issues.
Roger2: âare the cash index quotes referred to the SP & ND? are these the ones which should be of the "fast" variety? are there vendors who deliver the e-minis at 15 sec intervals? or is this not something to worry about?â
I have had experience with the âfastâ cash SPX. My data vendor does not supply this, though, so I rely on standard quotes. I believe IBâs TWS will provide a âfastâ cash quote. No chart, of course. Unless the index data is critical to some aspect of your trading then I do not think it is something to worry about. As the other traders have suggested, watching the Mini is quite effective. I believe that even some large contract's pit traders will now key of the Mini board quotes.
â...unless it is a secret, which stocks do you feel "given me a lead on the futures"?â
As for the stocks, shhhhhhhhh! This is just between you and meâ¦. Hey, what are all you other guys doinâ. I said, itâs between ME and ROGER2!
No secret. I just look at stocks such as those tradex21 mentioned, but I have developed tools and methods to determine the character of these stocks. How I classify their intraday movement can offer clues to the likelihood or legitimacy of a potential rally or breakdown in the futures.
I have had experience with the âfastâ cash SPX. My data vendor does not supply this, though, so I rely on standard quotes. I believe IBâs TWS will provide a âfastâ cash quote. No chart, of course. Unless the index data is critical to some aspect of your trading then I do not think it is something to worry about. As the other traders have suggested, watching the Mini is quite effective. I believe that even some large contract's pit traders will now key of the Mini board quotes.
â...unless it is a secret, which stocks do you feel "given me a lead on the futures"?â
As for the stocks, shhhhhhhhh! This is just between you and meâ¦. Hey, what are all you other guys doinâ. I said, itâs between ME and ROGER2!
No secret. I just look at stocks such as those tradex21 mentioned, but I have developed tools and methods to determine the character of these stocks. How I classify their intraday movement can offer clues to the likelihood or legitimacy of a potential rally or breakdown in the futures.
I appreciate the information on this thread. I haven't had the opportunity to spend much time watching the futures, but it sounds like I should. I have been under the impression that it is difficult to know if stocks are leading futures, or futures leading stocks. Are the futures really as reliable a leading indicator as this thread indicates?