How to use the S&P 500 Index as your Day Trading Crystal Ball
Channel: Meir Barak - Day Trading 
Date: 18/03/2019

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The S&P 500 index (ETF: SPY) is, without a doubt, the most important index in the world. It is the focal index, the king, the trader’s crown and scepter. It was developed by the financial services company Standard & Poor’s, giving rise to its initials. This index displays the prices of the 500 most widely held U.S. companies via a formula that calculates the importance and influence of these top 500 companies according to S&P specialists’ considerations. The S&P 500 is considered of highest quality due to its broad range, and it serves as the benchmark for measuring the entire market's performance. Of course, the S&P serves managers of portfolios, investment funds, hedge funds, and more in every stock exchange throughout the world.
The S&P 500 is also the most important index for the intraday trader. Why? Because 60% of a stock’s movement will be dictated by S&P 500 index movement alone. In other words, the stock you have bought will rise or fall after the S&P 500 has risen or fallen, and you will profit or lose chiefly by being dependent on market direction. 
Would you like proof? Observe the connection between the S&P and Apple’s movement in the intraday chart below. If you thought Apple had a life of its own, you were wrong! All intraday movement is determined at the outset by the S&P 500 index movement. The S&P 500 index moves first, and individual companies’ shares follow.