41 ms·

ES trumps the others.

• MuffinFlavored 3y ago
  Nice, thanks. I wonder by how much. Here is why I ask: a lot of technical analysis is done on psychological levels related to (in my opinion) SPY strike prices/SPX strike prices/SPX levels. Yet, /ES is typically 20 points ahead of SPX. For example, there can be a battle zone of support/resistance at 4900 on SPX, but /ES blew past it a day ago. I wasn't sure if one had more power/prominence than the other.
  • jleahy 3y ago
    The spread between SPX and ES is purely mechanical. It’s a function of expected future interest rates and dividends over the remaining life of the future. There is no such thing as support/resistance in reality.
    • MuffinFlavored 3y ago
      > There is no such thing as support/resistance in reality. Where would you say 80% of the daily trade volume comes from on average? The powers to be that I can think of: institutional investors / fund managers slowly reallocating (selling stuff off, buying stuff) daily high frequency trading algorithms trading shares back and forth to each other in an artificial way to generate synthetic volume/movement market makers reacting to option chain volume to remain neutral "hedge funds" / "quant funds" running their algorithm what do those algorithms look for at the "minute by minute" scale if not things like support/resistance/patterns/volume?
      • jleahy 3y ago
        In my experience a large % of the daily trade volume comes from me.