Page 177 - THE MARKET WHISPERER

THE MARKET WHISPERER 17 3

The symbols will be:
Futures expiring in September: /ESU3
Futures expiring in December: /ESZ3

Summary: SPX, SPY, ES

The market index is the most important index for intraday traders. If I’m
on holiday in Thailand and forced to forego my entire array of screens in
my trading room and make do with my 12-inch laptop, the only index I will
display, other than the chart for the stock I’m trading, is the five-minute
intraday SPY chart or the five-minute intraday ES chart. Every market
index movement will be important in helping me decide whether I need to
buy or sell a stock. I will use the SPX only when I need to quote a change in
the market for a professional article I am preparing for the media.

I choose not to waste expensive paper on samples of the SPY or ES
charts, since they will look identical to those of the SPX, and you will only
see differences when you starting tracking them in real time.