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Markets to watch whilst trading ES
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Markets to watch whilst trading ES

  #1 (permalink)
Normal Wizard
Sydney, NSW, Australia
 
Futures Experience: Intermediate
Platform: NinjaTrader with Jigsaw DOM
Favorite Futures: CL, 6E, ES, Piano
 
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Markets to watch whilst trading ES

ES traders, what other markets do you look at to give you a directional view on the ES?

Understanding yourself is just as important as understanding markets.
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  #2 (permalink)
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  #3 (permalink)
 Vendor: www.thestrategylab.com 
Quebec, Canada
 
Futures Experience: Advanced
Platform: X-Trader, InfinityAT, Saxotrader
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TickedOff View Post
ES traders, what other markets do you look at to give you a directional view on the ES?

On my monitors I have the following charts when trading Emini ES futures.

1) VIX and VXX
2) Emini YM and Emini TF futures
3) Eurex DJstoxx50 (only in the early morning hours)

These markets don't tell me if Emini ES futures is going UP or DOWN and they don't give any "early indication". Instead, I use them as verification that if I think the Emini ES futures is in a directional price action...I want to see these markets be directional too and not range bound especially if/when I'm looking for a trend trade.

Yet, if you are looking for something to give you an indication or price direction, I don't think another market can do that on a small time frame. In contrast, on a bigger time frame...I think market context can help give some info about the direction of the Emini ES futures. For example, the recent Monday and Tuesday events involving China that was heavily hyped by the financial networks (actually started the week before). That's market context and the way the Asia markets and European markets were responding...Emini ES futures had to respond too in similar like fashion because these markets are globally connected and institutional traders from all countries involved are trading each others markets.

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  #4 (permalink)
Elite Member
London
 
Futures Experience: Intermediate
Platform: Ninja, Sierra, Jigsaw
Favorite Futures: ES
 
Posts: 9 since Jun 2014
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Intermarket relationship

Yes I have the ES next to the NQ next to the TF. I look at all of these markets together and have a dom up for each with the T&S. The ES is the thickest and easiest to manage risk with, the NQ is much thinner with the TF the most volatile. At times these thinner markets do give me the heads up as to what the ES is about to do but the mostr powerful way I use these dynamics is:

If the ES is at support and in balance, the NQ has bounced off support and the TF has poked below but has come back above, the absorbtion on the bid in the ES is likely to hold before the offers start to be attacked.

If the ES is at support and bidders absorbing....but the NQ and TF have dropped with pressure on the bid then dont expect the ES to hold.

If all three have broken out of value, the NQ has pulled back to VWAP or some significant intraday level and the ES has pulled back to VAH then this position trade has a great edge.

The moves where all three markets are out of balance in the same direction have the greatest power, its like the breaks have come off.

If the ES is at a level but the other two still have a ways before they get to their levels then the ES level is less likely to hold but if all three are at their own levels these are good places to take positions.

Looking at all this information will be too much at first but give it time, for me this is where most of my edge comes from in the heat of the moment.

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  #5 (permalink)
Trading Apprentice
Ashburn, VA United States
 
Futures Experience: Intermediate
Platform: Tradestation
Favorite Futures: ES
 
Posts: 20 since Jul 2015
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wrbtrader View Post
On my monitors I have the following charts when trading Emini ES futures.

1) VIX and VXX
2) Emini YM and Emini TF futures
3) Eurex DJstoxx50 (only in the early morning hours)

These markets don't tell me if Emini ES futures is going UP or DOWN and they don't give any "early indication". Instead, I use them as verification that if I think the Emini ES futures is in a directional price action...I want to see these markets be directional too and not range bound especially if/when I'm looking for a trend trade.

Yet, if you are looking for something to give you an indication or price direction, I don't think another market can do that on a small time frame. In contrast, on a bigger time frame...I think market context can help give some info about the direction of the Emini ES futures. For example, the recent Monday and Tuesday events involving China that was heavily hyped by the financial networks (actually started the week before). That's market context and the way the Asia markets and European markets were responding...Emini ES futures had to respond too in similar like fashion because these markets are globally connected and institutional traders from all countries involved are trading each others markets.

I use similar, except I add the DJIE and TRIN.

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