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Monday
Sep102012

Globex - Prime Time For Trading Emini Futures?

(QQQ)(DIA)(SPY)(GLD)(FB)

It's no secret the Globex overnight session now presents some of the best trading opportunities in the world of Emini Futures Trading.

 

Globex - The New Prime Time For Trading Emini Futures?

 

When U.S. traders use the term "Globex Session" they are typically referring to the electronic markets that trade from 3:30 PM Central until 8:30 AM Central when the open outcry session begins on the floor of the exchange. In the truest sense of the word, Globex embraces all electronic trading around the clock.

June 25, 1992 was the day the CME Globex went live.  Initial volumes were modest but interest was keen, and the system grew steadily in popularity.  While the system was initially sold as a convenience for currency traders, CME Group leadership had a larger vision and believed that electronic trading could be made to serve as another source of distribution for all of the exchange’s varied product lines. 

The true breakthrough moment for Globex came in 1997 with the launch of E-mini S&P 500 futures –a contract one-fifth the size of the standard S&P 500 futures contract and offered only on the CME system.

Despite many enhancements in speed and capability, the potential for electronic trading has barely scratched the surface.  The next major milestone for Globex occurs this year, as speeds increase from milliseconds into microseconds.

Electronic trading is not just about speed. It also provides global access to all kinds of traders. The popularity of the S&P E-minis is a prime example. With electronic trading you have the ability to trade on an equal footing with anyone, anywhere in the world. Once upon a time the E-minis followed the larger pit traded S&P contracts, the situation is now reversed as the E-minis represent the main liquidity source.

As we wrote back in January, the overnight Globex Session is no longer a shadow market. Some of the largest moves we have seen over the past few years have happened when Wall Street and the Pit Traders were fast asleep. As time marches on we see this shift becoming more and more predominant.

The chart below shows just such an example. We issued a Tweet to consider being short below 1430.75 Sunday night. The markets were locked inside of a 5 point range for most of the session today. As the overnight  or "Globex" session as we now call it approached, the markets suddenly sprang to life much the same way they used to do before Wall Street opened. Our Tweet did trigger during the day session but as you can see from the chart, most of the move happened after the pits were closed.

 

SP 500 Emini Futures Twee(ES) S&P 500 Emini Futures Tweet - @CFRN

 

Since snapping this photo earlier, price has now moved north of the CF_MA1 and is currently printing a bullish candle on the hourly chart. We issued a Tweet several hours ago to consider taking some or all profit as price had dropped 8 points plus from our entry price. If price continues to move higher look for potential resistance at the 1427/1428 Weekly Trading Zone.

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Emini Podcast for Monday 09/10/12

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    Globex - Prime Time For Trading Emini Futures? - emini news blog - Emini Trading
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    Globex - Prime Time For Trading Emini Futures? - emini news blog - Emini Trading
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    Globex - Prime Time For Trading Emini Futures? - emini news blog - Emini Trading
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    Globex - Prime Time For Trading Emini Futures? - emini news blog - Emini Trading
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    Globex - Prime Time For Trading Emini Futures? - emini news blog - Emini Trading
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    Globex - Prime Time For Trading Emini Futures? - emini news blog - Emini Trading
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    Globex - Prime Time For Trading Emini Futures? - emini news blog - Emini Trading

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