Greetings,

This is a silly question, but.

Between NASDAQ Composite Index and E-mini S&P 500 Futures, who would be more leading?

In a smaller time-frame (3 to 10 minutes) who would respect, R/S, MAs, candlesticks , etc, more?

Thank you.

Joseph

would be my opinion.

wldman 

would be my opinion.

I agree.

Today I was wondering this question when I saw the ES (3min) drop like a hot potato at an 89 SMA, stop dead on its tracks at early morning support @1424, respect resistance @ 1428.25. While COMP appeared to be following with no noticeable hindrances at the same levels.

Just a novices observations.

Joseph689 

Between NASDAQ Composite Index and E-mini S&P 500 Futures, who would be more leading?

If your question had a definitive answer, risk-free arbitrage would be possible and the market would not function.

In other words, it depends. They are each a basket of stocks, and it depends on the basket and on how arbitrageurs operate at any given time.

Today NQ (not COMP as I do not watch the cash) was quite a bit stronger and was making new highs before ES did its stop run. In this case, NQ led. later in the day it made another run while ES did not budge. It "led" but the ES did not follow.

So, again, it depends.

josh 

If your question had a definitive answer, risk-free arbitrage would be possible and the market would not function. In other words, it depends. They are each a basket of stocks, and it depends on the basket and on how arbitrageurs operate at any given time. Today NQ (not COMP as I do not watch the cash) was quite a bit stronger and was making new highs before ES did its stop run. In this case, NQ led. later in the day it made another run while ES did not budge. It "led" but the ES did not follow. So, again, it depends.

I thought I had stumbled upon some undiscovered knowledge here!

It would be interesting to know, which of the futures has the highest probability of adhering to the typical signposts; MAs, S/R etc.

I guess it would have to depend at a higher level, on the programming of High-frequency trading boxes, and to a lesser extent, human psyche.

Joseph689 

I thought I had stumbled upon some undiscovered knowledge here! It would be interesting to know, which of the futures has the highest probability of adhering to the typical signposts; MAs, S/R etc. I guess it would have to depend at a higher level, on the programming of High-frequency trading boxes, and to a lesser extent, human psyche.

I bet over the long haul that just about every indicator is right 50% of the time, and wrong 50% of the time. At least, that is what I have seen testing many, many indicators.

Profound!

Quoting 

I bet over the long haul that just about every indicator is right 50% of the time, and wrong 50% of the time. At least, that is what I have seen testing many, many indicators.

@Joseph689, here are a few charts that show which was the dog and which was the tail, at least today.

The ES is in the top panel, and the Nasdaq COMP in the lower panel of each chart.

So do look at them, assuming you are able to take your eyes off of my stunning necktie.

Unfortunately I am unable to offer the necktie for sale as that would require my status to be changed to Vendor.

@Zondor

Would it be possible to do this using the cumulative delta of both instruments?

Also how did you do your magical trick to synchronize both instruments?

Quoting 

Would it be possible to do this using the cumulative delta of both instruments?

No, not until someone modifies the GomRecorder to accept the instrument name as a parameter instead of it always being the chart MasterInstrument.

Quoting 

Also how did you do your magical trick to synchronize both instruments?

It's based on this idea, but I made a lot of changes to the version that is here.
https://nexusfi.com/download/vip_elite_circle/1160-download.html?view

Now how about that snappy necktie!

By the way, shouldn't the title of this thread be whom leads who? whom leads who'm? who's on first®? I feel badly until I no that this is rite, and I will loose sleep over it.

Just one more thing. Watch the Mark Douglas videos on YouTube. Some of the best trading advice you will ever get.