John,
Whether you can use NQ or QQQ for your analysis needs depends on how you are using them. If you are looking for relative strength of a Nasdaq 100 stock vs NQ, then I would imagine QQQ will suffice.
If you are trading QQQ, then I think focussing on QQQ is more important.
If you are trading NQ, then clearly you need NQ feed!
You might find some other uses for both. Lets look at today, there were some interesting happenings that you can't see just by watching one. As NQ approached limitdown, massive volume in QQQ hit; but the volume did not continue to increase as limitdown was off and price sank. Bit of a clue that there was an opportunity for a rebound.
If you were just looking at QQQ you'd perhaps not have noted that the NQ/ND were limitdown. I personally couldn't trade a downtrending market without being very aware of limitdown areas are, and in real time, but its a habit thing from trading futures.
I realize that so few people seem to trade or think about anything but tech, but if you are trading SPLS or MRK or something like that, you might also want to be looking at ES... and sure you could use SPY as a proxy.
Or switch to esignal and get emini for free for six months and 10$ after, like it should be ;) |
