Aug 082012

The low volatility, low volume dog days of summer continue.  Our only real hope for some volatility today was from the 8:30am EST non-farm productivity and jobs report.  Unfortunately for us traders, the numbers were mixed the markets had little reason to move very much.  The ES opened into the DTG 93.25 level, but it quickly became apparant that it was going to be another low volatility day.  Price grinded around the pivot point and VWAP for nearly 90 minutes before breaking higher to touch the DTG 1400.  The high failure that ensued was not the greatest opportunity of all time, but rather the only one that I see for today.

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