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Regarding your comments on the SPX not being tradable, I (and many big players) draw their trendlines based on NY trading hours only, including incrimental hourly charts.
These become the daily, weekly, monthly and yearly charts I use for trading.
Floor traders in NY often use resistance levels from overnight futures trading in the first hour after the open.
Richard, SPX trendlines can be very different from ES lines and since SPX is not tradeable I do not bother to chart it. I either chart the S&P cash CFD or the ES. I trade what I see and with SPX that's not possible. If someone is trading the stocks not the futures of course it makes much more sense for them to chart the SPX.
Regarding your comments on the SPX not being tradable, I (and many big players) draw their trendlines based on NY trading hours only, including incrimental hourly charts.
ReplyDeleteThese become the daily, weekly, monthly and yearly charts I use for trading.
Floor traders in NY often use resistance levels from overnight futures trading in the first hour after the open.
Richard,
ReplyDeleteSPX trendlines can be very different from ES lines and since SPX is not tradeable I do not bother to chart it.
I either chart the S&P cash CFD or the ES. I trade what I see and with SPX that's not possible.
If someone is trading the stocks not the futures of course it makes much more sense for them to chart the SPX.