Closing/Opening price gap on ES

[sandman]

There's a relatively huge gap between the Friday closing price and Monday's opening price for the ES Mini S&P 500. See attached.

What causes this? Is the ES being traded over the weekend other than on the CME? Would appreciate if someone could enlighten me so I can understand this.

sandman

[NinjaTrader_PatrickG]

We are unsure what events took place that would cause a drastic price change during non-trading hours, however, we have verified that this gap did occur by cross-checking the CME's website and the available delayed charting there:

http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500.html

We invite other forum users to chime in if they have an explanation for this gap.

[sandman]

Patrick,

Thanks. I now contacted the CME directly and got the following explanation.

"There was no internal event that occured over the weekend that affected stock market price movement.
Although the markets may be closed over a weekend, that does not mean that world events will not effect our underlying markets.
The French election on Sunday did have an effect on the Monday opening prices."

That is something I can think with (though it does not explain how that technically works as the exchange is factually closed).

sandman

[sledge]

That is something I can think with (though it does not explain how that technically works as the exchange is factually closed).

sandman

The market can do whatever it wants from close Friday to Sunday. There is no continuation from previous close to next open ever. If there is, it's just luck.

Go back previous weekends and you will see differences.