Uploaded by Kay Miller on December 3, 2016 at 4:11 pm
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SPX & E-minis (et al) are basically algorithm values traders are "chasing" up n down, especially on the overnight sessions (which are Asia/Europe hrs) How do we know this? Because, using your example here, E-minis were going up first & then down that night/early a.m. hrs to locked limit down 105 pts (I think) but I was checking the BIG Cap/FANG stocks AH prices and they were hardly "off" from their NYSE/NASDQ close(s).I've seen this time n time again with so-called "gaps" of 20+pts, and only on occasion see individual Big Caps reacting likewise in AH prices. Also, explain this: Many stocks in the S&P don't trade AH so WTH do you think we're "trading" on AH timeframe in say, the E-minis? Not 500 companies!!! (would be curious to know how many are actually traded in AH or Asia/Europe sessions?) And i've asked people "in the know" to explain how/why CL & GC go up & down the way they do each day (News or no news at all) and get several/many different answers….none of which make sense, or add up. For as supply demand goes, CL & GC are not really changing market price wise, in real time trading hrs, as much as they often do in the futures, now are they? Little to no changes at the pumps, or at real gold deliveries (which are higher, mind you). No, traders are chasing algos, or basically "Imaginary" prices each day, and one begins to wonder if same is true of volume as well. Sad, but true. @Steven Place +Steven Place.
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