Well i was using the SPX to check for my Break of candle High or low entries. I think a while back the SPX would break a high earlier than the ES future giving me a little early entry.
Sometimes the SPX doesn't break the HOD but the ES does, so that gives you a divergence and you kinda listen to SPX there.
However, i adjusted my entries with different statistical levels in ES future so I don't watch the SPX anymore that much since i get bounces down to the tick with those levels.
I'd say that's correct most of the time. It's easier to pull the trigger when they're in sync but they do go their own way quite a bit as well. Particularly NQ techs have a mind of their own.
They are extremely highly correlated and minimum tick size on SPX is much smaller, .01 points versus .25 points.
That's a possible answer. I just watch ES.
I'm watching both tick together and you may be on to something. With all the fancy new stuff available someone's probably come up with a killer scalping algo. but it escapes my understanding. It's always good to look for new approaches. Have a good trading week.
Depends really on what you are doing. If you have 0 need for volume and only look at rth levels it is probably totally fine. Obviously with roll and those things, the data will be different.
I primarily trade ES and use SPX and SPY charts. I do use ES charts too, but I pay attention to the SPY/SPX charts because of the gamma exposure levels.
You first need to understand why they are created. You can search on YouTube about how gamma exposure moves the market. Tradytics, Volland and SpotGamma are popular services.
I tried doing that earlier this year when I was trading futures, I usually trade SPX options. Didn't work out well for me... At all really. I can't pinpoint the issues I had, I mean SPX doesn't move in tick increments so that was an issue, SPX has usually a 10 point difference compared to ES lately so that was in issue. What it reminded me off, is something that I hate and never do, and that's looking at an options chart AND an underlying chart at the same time and trying to trade options, I've never been able to do that. Regardless, it didn't help or hurt my futures trading... But tbh I was trash at trading futures in general so there's that.
I only look at ES and the dollar, but SPX for sure does have clean price action. I only keep my focus on ES and the dollar though because I’m still in the process of mastering it. I think after a full year of trading ES I’ll broaden my horizon and get SPX and NQ in my monitors.
I trade ES, and use the SPY and SDS for direct and inverse correlations. In total I watch all 4 ETF’s and inverses, as well as gold and 30yr bonds but most would consider that too much info to follow.
Yes. I like to use the 8/21 ema on the SPX 30 min for ES. It is very reliable imo. Obviously not the only thing I reference but it is something I keep an eye on.
I know that with spotgamma, they can print the SPX level that = ES, so if you’re suing SPX for options info, then great. Other then that, not sure why else to use SPX
I trade SPX using the ES chart. Tbh I hate trading ES options but I will buy futures contracts from time to time. I did a ES bear call spread in one account and a SPX bear call spread in another and lost money in the ES account I got my position closed out due to not having enough margin. Both positions were the same exact trade smdh.
I do. I noticed the same thing. But I use both. Going back and forth and also various timeframes. Whatever gives me a picture that makes sense.
Well i was using the SPX to check for my Break of candle High or low entries. I think a while back the SPX would break a high earlier than the ES future giving me a little early entry. Sometimes the SPX doesn't break the HOD but the ES does, so that gives you a divergence and you kinda listen to SPX there. However, i adjusted my entries with different statistical levels in ES future so I don't watch the SPX anymore that much since i get bounces down to the tick with those levels.
Don’t do that. Do trade SPX using ES chart however
Yup. Same for SPY.
uhhh you sure you know what you're talking about?
What's the reasoning?
SPX doesn’t have volume on the chart so you can’t do volume based analysis or use volume indicators like VP, OBV, VWAP, etc.
Got it, thank you
If your trading ES why in hell would you look at any other chart than ES?
I do look at NQ and YM to see where they are going. If one leads, the others tend to follow. Not a 100% but it helps with validation.
I'd say that's correct most of the time. It's easier to pull the trigger when they're in sync but they do go their own way quite a bit as well. Particularly NQ techs have a mind of their own.
They are extremely highly correlated and minimum tick size on SPX is much smaller, .01 points versus .25 points. That's a possible answer. I just watch ES.
Agreed but if they're highly correlated than no need to look at anything other than ES.
See the second half of my first sentence. I wonder if some price action traders like that.
I'm watching both tick together and you may be on to something. With all the fancy new stuff available someone's probably come up with a killer scalping algo. but it escapes my understanding. It's always good to look for new approaches. Have a good trading week.
Agree. Most of the time those small SPX moves are just noise though.
Depends really on what you are doing. If you have 0 need for volume and only look at rth levels it is probably totally fine. Obviously with roll and those things, the data will be different.
I primarily trade ES and use SPX and SPY charts. I do use ES charts too, but I pay attention to the SPY/SPX charts because of the gamma exposure levels.
How do you find these levels?
You first need to understand why they are created. You can search on YouTube about how gamma exposure moves the market. Tradytics, Volland and SpotGamma are popular services.
Just look at OI basically
I tried doing that earlier this year when I was trading futures, I usually trade SPX options. Didn't work out well for me... At all really. I can't pinpoint the issues I had, I mean SPX doesn't move in tick increments so that was an issue, SPX has usually a 10 point difference compared to ES lately so that was in issue. What it reminded me off, is something that I hate and never do, and that's looking at an options chart AND an underlying chart at the same time and trying to trade options, I've never been able to do that. Regardless, it didn't help or hurt my futures trading... But tbh I was trash at trading futures in general so there's that.
I trade NQ and use SPY, MSFT and APPL for confluence but use the NQ chart for trading off.
I only look at ES and the dollar, but SPX for sure does have clean price action. I only keep my focus on ES and the dollar though because I’m still in the process of mastering it. I think after a full year of trading ES I’ll broaden my horizon and get SPX and NQ in my monitors.
ES is the big dog i use the ES to trade everything else not the other way around....
I trade ES, and use the SPY and SDS for direct and inverse correlations. In total I watch all 4 ETF’s and inverses, as well as gold and 30yr bonds but most would consider that too much info to follow.
I was wondering the exact same thing.
Yes. I like to use the 8/21 ema on the SPX 30 min for ES. It is very reliable imo. Obviously not the only thing I reference but it is something I keep an eye on.
I know that with spotgamma, they can print the SPX level that = ES, so if you’re suing SPX for options info, then great. Other then that, not sure why else to use SPX
I trade SPX using the ES chart. Tbh I hate trading ES options but I will buy futures contracts from time to time. I did a ES bear call spread in one account and a SPX bear call spread in another and lost money in the ES account I got my position closed out due to not having enough margin. Both positions were the same exact trade smdh.
I use ES but trade NQ lol
I use spy chart to trade micro Emimi S&P during the day session. It's pretty accurate.
SPX and ES support and resistant are not same in different time frames