Jan 092013
 

Today was the third morning in a row without any significant economic reports to give the markets some direction.  Alcoa had beat expectations yesterday after the bell and given the bulls were able to climb back from yesterday’s drop, there was the potential that maybe, just maybe, the bulls would take another attempt at the multi-year highs.  Alas, no such luck.  It became a day of waiting for price to work the DTG 54.75 level.  By mid afternoon, the ES finally made new lows but not order flow opportunity unfolded until about 3:45pm EST by which time it too late to initiate a day trade.  No example trade for today.

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