I started the day with a bullish bias as I thought the US stock markets would consider almost any information about the fiscal cliff negotiations as meaning Congress and the President are closer to a compromise. Unfortunately we did not get much information today and the ES spent most of the day meandering around it’s yesterday close price in the DTG 37 level. The first DTG opportunity was off the bottom of the DTG 17 level. Members who entered near the bottom did just fine. The order flow opportunity came after the bounce off the bottom on the first pullback. Unfortunately, it only provided small targets as the ES went into a grinding mode for the next 4 hours before dropping lower to the DTG level below.
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