Using SPX indicator - executing on ES ?

Hi everyone, some amateur questions - have been trading so far only individuell stocks...

1] Does it work to use the SPX chart for applying an indicator and strategy, but executing the orders on ES mini ?

As ES price is different then SPX price, but charts are relative align from what I've checked.

I'm talking about rading 1second bars - not ticks.

2] If thats not smart, is there any other EFT or so which mimics SPX chart accurate to 1 second bars ?
(some indicators don't really work on ES chart, only on SPX chart)

3] Are trades on ES settled according to ES price, or according do underlying asset (SPX) ?
(remember reading futures are settled according to undelying asset, meaning ES price dosn't matter - gains or losses on ES are going to be according to SPX price...)

Thanks for any accurate help

 

add the index $prem to it and you have real time futures for free.

 

Sorry, can you explain that further ?

 

SPX is more granular than ES and it's obv an index so no NBBO or microstructure. Program trading arbs cash and futures so generally ES will lead the index. ES is an auction market while SPX is a summed index of component share capitalization. ES will track SPX but it's not settled to SPX.

 

the spx is different from the futures how? "PREMIUM"

 

right,

and as of that - can I algo a system based on spx chart and execution on es on 1 second candles ?

 

add about 25 points will do

 

NO IT DOESNT WORK THAT WAY THE PRICE DIFFERENCE IS MISSING THE PREM SO YOU ADD IT.

 

What does it matter? ES is simply the SPX forward in an auction mkt.

 

And AFTER I added it - all fine and in tune with 1second candles on SPX chart ?