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Strong intraday corrolation between DAX and SP Emini. How to setup and trade?
Are the chart getting me fooled? autoscale? Fixed? Should I look intraday, 2 days? weekly
Am I completly wrong? I need closure on this
Can you help answer these questions from other members on NexusFi?
Quite normal for all major indices and basically all time frames.
fyi a longer-term pic of the rolling correlations up to yesterday - measured by ETFs in this case to avoid e.g.
rollover data dicontinuities; just to give an impression of the time (in)stability of this correlation.
Yes but what is interesting, and useful, is that the dax will often react/turn at the same time as S & P when S & P hits a clear SD/SR level, even if there is no apparent level on Dax
It seems from brief observation that correlation of turns/pivots is higher than strength of moves, especially during europe pm, NY am
So imo, it pays to analyse S & P/ES for levels as well as Dax as part of pre trade routine for trading Dax in europe morning
I suggest you pull up 5 min charts of the two instruments, side by side and watch them for a few weeks - and then form your own conclusions - and whether it helps you or not
