SPY Volume vs ES Volume

[trdes]

Would love to pick your brains about this, then.
People generally advocate longer timeframes; is this not because more trades happen over a greater period of time? Isn't high-volume indicative of "consensus" on the "right" price?
Shorter timeframes have such small volumes that pricing may be easily swayed by a greater number of players entering the ring, whereas over long timeframes, it is less likely that someone waiting in the wings will rush in and change things, as they've already made their moves, or nonmoves.

The same patterns that happen on a 100 tick chart are the same patterns that take place on a 10000 tick chart. Just charts that small don't give the human brain time enough to think and execute properly. Any sizable move makes the 100 tick chart to appear sporadic, when really the cycle of the pattern is just being sped up.

 

[murray t turtle]

What does "breaking support/resistance" mean? Is a break "1 or 2 tics"? Is that significant enough to put money on? Any value one places on a breakout is subjective. Is 1 point enough? 2 points? I recall years ago players using a "2% buffer", let along 2-tics. (2% today would be 40 ES points!)

If there is a genuine break of S/R, both the SPY and ES will go along. A break of S/R on either chart by a "tic or two" is most likely meaningless, regardless of divergence. A genuine breakout needs to have "follow through"... and you can't know that yet at a "few tics".

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Good question;
% is a better measure. S/R is an area, a speed bump, a low fence. NOT even all 50 day moving averages are the same,[simple,+ weighted, EMA......]. NO ,one tic is noise, not s/r. Volume is not useless, one share of SPY, may not mean as much, as a 258 million SPY day in NOV. Every share counts; i mostly agree with your volume comments,Scataphagos.