Sox-index/Compx????

I was wondering if you trade, do you also look at the Sox-index, Ndx, Compx, Dow Jones or only to your stock you trade?


Let me know how you do it.

Greetz

 

i only watch the security i'm trading - i usually trade the es

 

All of my daytrades are based off the S&P 500 futures contract.

 

Because it is very much indicative of the "leadership" in the market.

It is the first group to rally, and the first group to breakdown when the market is at key turning points.

Index Futures traders cannot afford to ignore this group!

 

But Waggie, many times there is a lot of divergence in these "group" and many times they react similar, not?

 

I watch the SPY primarily to help determine the best time to sell. I swing trade stocks and my entries are purely mechanical without regard for the overall market. But selling decisions can sometimes beneift by watching a 5 min chart on SPY. For example, if I see a particularly strong move upward I may pull the trade as I like to sell into strength, all other things being equal.