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/ES momentum


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/ES momentum

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  #1 (permalink)
spaike97
Los Angeles, CA/United States
 
 
Posts: 2 since Dec 2017
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I just started trading /ES and found something that is really different than what I used to trade(small-cap stocks).

It seems that although /ES loves to move back and forth a lot, the trend we see when the market opens(around 6:40 PST), usually won't reverse till at least 9:00-10:00 PST. Checked through recent charts and it seems to stand.

I'm not sure if it is true as I just started. What do y'all think?

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  #3 (permalink)
 pfsthib 
Sulphur, LA USA
 
Experience: Intermediate
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I actually have an alarm set at 935 am CST to look for a trend reversal.

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  #4 (permalink)
 RDK91 
Antwerp
 
 
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pfsthib View Post
I actually have an alarm set at 935 am CST to look for a trend reversal.

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9:35 CST is 90 minutes after the session starts, correct?

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  #5 (permalink)
 pfsthib 
Sulphur, LA USA
 
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RDK91 View Post
9:35 CST is 90 minutes after the session starts, correct?

That's correct

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  #6 (permalink)
 kevinkdog   is a Vendor
 
 
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RDK91 View Post
9:35 CST is 90 minutes after the session starts, correct?


pfsthib View Post
That's correct

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Please correct me if I am wrong, but how is this even remotely true?

ES starts at 5 PM Central every night.

ES "day session" is aligned with stock market hours of 8:30 to 3:15 PM Central


For 9:35 CST to be 90 minutes after session starts says the session starts at 8:05 CST, which is neither of the 2 times above.

Help me out here, maybe I had too much eggnog tonight...

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  #7 (permalink)
 pfsthib 
Sulphur, LA USA
 
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You're right, i should have had the egg nog. It's 65 minutes after the stock market open. Good catch

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  #8 (permalink)
sholcombe4
Houston, TX
 
 
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It likely makes a reversal because of the imminent close of the European markets. The ES is sensitive to global open/close hours. Most large institutions have their algorithms geared to the first hour, last, hour, large trend shifts, etc.

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  #9 (permalink)
 Trailer Guy 
Boise, Idaho/USA
 
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Yes I agree that after London/Frankfurt closes things can change. I frequently see the last half hour of European markets as positive, then up to a half hour or so of nothing before the New York drift up grips the market.
In a positive way may I suggest you start thinking in Greenwich Mean + time. All the zones confuse things and then those Europeans are so far north that Daylight Savings is three weeks off from in the US. Way easier to say GM +5 or GM +7
https://market24hclock.com/

How many times did Fat Tails have to re-explain market hours settings for his VWAP, I swear the man has the patience of a saint!

By the way Futures Trader 71 says the night session is usually about 10% of the day session. So if you assume that the power hour for US based traders more or less applies to Europe then you would speculate that about 12 to 18% of the volume goes away when they close.

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