When people talk in terms of the "opening price" are they referring to the 4:30pm Globex open or are they referring to the 9:30am open? Is one more generally accepted than the other? Thank you.
The official time is 4:30eastern for the ES however many traders use 9:30 opening so it matches up with the pit trading times of the big sp contract. It's a matter of a person styles mostily. Personally I trade gap opening and the only way to do that for my style of trading on the ES to to use the pit times. Gaps it where I make the majority of my money so I trade that way. It's been discussed several times at length before on ET so a search should get you more opinions. Not that ET members lack for opinions!