Jan 042013


Today turned into a low volatility day as the morning Employment, ISM Non-Mfg, and Factory Orders reports were mixed.  The bulls really wanted to take out the multi-year highs and hope to start a good breakout to the upside.  However after the 10am EST reports, it appeared the buyers were not going to be able to take out the morning’s high of the day.  I was hoping for a good retest of the day’s high which did eventually come, however it was after committing to today’s example trade.

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