Hello fabulous BBT community!
With the wild stock market ups and downs we're seeing these days, we'll frequently hear before the market opens on financial websites things like that "S&P Futures are up 400 points!" giving possible clues on how that markets will rally or fall during that day...
Attempting to read this data myself I come up frustrated. For example if I overlay SPY with ES 09-20 or ES1! they are nearly identical to each other once properly re-scaled. I just don't see much divergence between the instruments and certainly not 400 points!
What I my missing? What information source do market analyst review when they say things like "S&P/NYSE/NASDAQ Futures are up/down x points!"
Thanks for the awesomeness and keep your person and your wallet safe!
Jean-Pierre