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For daytrading the S&P I find it useful to consider that activity
worth tracking, with some indicators, begins around 5 am Central
so that 3 min bars with settings of 20 mbb are lining up by 6am.
If short term daytrading indicators tracking SP are at odds with
the same indicators tracking DSP at 8:30 am, then I usually wait
for them to track together or go with the SP (except for gap
trades of course).
Tim Ryan wrote:
> I evaluate each market separately and then decide weather or not to
> chart the day or night session. A couple of things to look at is the
> overnight volume and the "logical" basis for the night/day session.
> For example, the cash currency market trades heavily overnight in other
> parts of the world. (I think the most active cash time is 7 pm EST).
> Also, the cash market is much larger than the futures market, so it
> follows that the night session is the one to track. Even if the night
> currency session has little volume it should still be followed since
> (theoretically) arbs should keep the globex prices "in line" with the
> cash.
> For markets like the grains, where there is little overnight volume and
> little logical basis for trading overnight, I use the day. Sure, some
> cash grain moves overnight and in the early morning but the cash market
> is small relative to the futures (correct me if I'm wrong on that
> anyone).
> For the S&P I don't know. I track the day session but I think the
> consensus on this is fairly equal with a slight edge to tracking the day
> session.
>
> - Tim Ryan
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