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I notice Al is using the old CME RTH hours on his chart: 0830-1515 CT or 0630-1315 in Al's time-zone.
The CME updated their Regular trading hours to 0830-1500 last November.
https://www.cmegroup.com/education/files/eq-trading-hours.pdf
The Daily settlement procedure was also updated and now the CME are using 1459/30-1500 CT to calculate the daily settlement price. previously this was done at 1514/30 - 1515 CT.
https://www.cmegroup.com/confluence/display/EPICSANDBOX/E-Mini+Standard+and+Poors+500+Futures
From what I can see from looking at a Daily Globex chart, the close price of the daily bar seems to line up better with the 15:00 CT price as well (There's a slight difference, but from what I can see it is within a point of the 15:00 close).
Is there any reason Al is still using the old Trading Hours? Surely with Globex, RTH and Cash all in alignment with the same close, the 15:00 price is significantly more influential than the old 15:15 close.
Maybe he doesn't know its changed?
By the way there's some strange issue with the forums.
I was unable to write 14-colon-59-colon-30.
When I write that it comes out like this: 14:59:30
Hi Kevin,
Al is well aware of change and happy to stick with his 4:15pm ET close as institutions are still active during that 15 minutes. You can see the volume drops off after 4pm but still sizable most days.
By sheer coincidence I am working on one of Al's upcoming symposium presentations today where the following slide is located. Does this help? ; )
By the way there's some strange issue with the forums.
I was unable to write 14-colon-59-colon-30.
When I write that it comes out like this: 14:59:30
Hi Kevin,
It seems that any group of characters (except space) with a colon either side just vanishes altogether. Must be an exotic PHP coding thing. I can check with forum developers for an answer.
Hi Richard,
thanks for responding. That makes sense, thanks. I do actually make quite a lot of money some days trading that last 15 minute period, so I'm not removing it from my chart either. I just wondered if the 1500 close might be significant S/R with Globex, cash and RTH all lined up there.
BTW - I see that my email address has been exposed as my username on the forums, I'd prefer this to be private. I've updated my username on my profile, please could you edit your reply so that my email address is removed from the quoted post.
I'm considering going to Al's thing in London. Its very expensive though. Are you going to be there?
Hi Kevin,
I trade the full Globex and it gets quite active before the daily 8:30am ET reports. So yes, Globex patterns and levels are definitely S&R throughout. I also use a 8,000 tick chart to give a better chart display over the quieter Globex hours. With the volatility currently, even 8,000 ticks can be too fast when compared to the 5-minute.
I would love to go to London to meet up with Al and others but Hong Kong here has a mandatory 14-day hotel quarantine on return, so difficult. As we are currently swamped with thousands of Omicron cases, that may change later?? It really makes little sense to quarantine anyone arriving from overseas who is both vaccinated and has a negative Covid test.
PS. Fixed your email refs above.
Note to all members - do check your account page and edit/update the "Nickname' (if needed) that the forum system uses.
