What do you consider to be the true daily opening of the ES as opposed to the offically designated one as shown on CME Website. Is it more like the FOREX is where there really is'nt a opening/closing per say, but in periods through the day where where the market becomes significantly more active because of the actions of the international market. It seems to me that it seem to just follow the general time frame of the NY firms, 8 to 4. Sorry to ask such a newb questions, but I am trying to make my move into the ES and I still need dome more data. The only thing that was cool about Forex (and it sucks in general) was that there seemed to be activity at all hours. You just had to wait for whatever market to wake up.
The trading day, in my opinion, starts with the 8:30am opening, for bar-charting purposes. That opening is more important than the after-hours stuff from the night before. You decide what's important for you.
AS soon as relevant data begins to roll in... pre market earnings, economic data or anything else from overseas that affects like yeasterday's China rate increase that was blamed for a sudden drop in the index futs. Whatever causes perception to change.
========= Agree with that 8;30 chicago time; many charts also have a regular natural gap which starts at 7;00 AM chicago time.Probably 88- 95 -98% of time, not much goes on from 7-8;30cst. Also you get another hint on liquidity with margin requirements generally increased out side hours 8;30-3;00 cst
I hope they never go totally electronic as it would probably wipe out the greatest profit opportunity in the market and that is the opening hour of the ES/NYSE.
======== LouD; Most of ES,YM big trends start well before noon[chicago time]; however do have 1 uptrend move recorded starting afternoon, @1;oo-2;30 end pretty much ES,YM, chicago time,JAN 3-06 regular market hours.
9 cst IS TIME TO START FOR ME USUALLY,...........9 to 2:45.........forget all times otherwise.....and trade your system with no external information..........ym intraday only........