Jan 312013



We had a barrage of blue-chip earnings this morning with UPS, Colgate-Palmolive, Dow Chemical, MasterCard, Nasdaq, Time Warner, and Viacom.  Also on deck was plenty of economic reports: jobless claims, income, and the Chicago PMI.  The earnings and reports came in mixed before the Chicago PMI blew away expectations which gave the ES a nice boost straight to 1500 where it bounced.  Unfortunately, institutional order flow did not tip off a potential top and I missed shorting the area.  Price came down to test yesterday’s close where I took a shot at a long back to the highs, but that trade didn’t work.  It was not a DTG level area and I only mention it because I mentioned the potential opportunity in chat.  The ES next dropped down towards the Globex lows in the DTG90.75 level where today’s example long opportunity unfolded.

Below is member only content. Not a member?  Subscribe and join the discussion!.

Click here to become a member

Sorry, the comment form is closed at this time.