Aug 092012

The ES opened with promising volatility as it climbed 6 or so points into the DTG 1400.25 level where bounced off the level back edge and it met with strong institutional selling at 1401.  With the R1 pivot as a backstop, any entry in the level could have eventually reach most targets.  However the ES did rotate back up to give the R1 a good test, but the R1 held and the ES grinded for 2 hours before breaking down.

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