No economic data and light on the earnings set the tone for a quiet day. There was hopes that maybe Draghi speaking to the Spanish parliament or Apple’s CEO Cook speaking at a Goldman Sacs conference or maybe even some new information about the pending automatic spending cuts would create some volatility. However as I posted in chat, I expected the day to be low volatility and the my day frame chat reflected that expectation. I didn’t think the ES could get any higher than 19.50 and it topped at 19.00. There were a couple of weak trade opportunities in the grind of the DTG 13.50 level. Any shorts trades would have ended up losing and any long trades had enough movement for at least a small target. My mindset in the morning was biased to the short side and I had to wait all morning for the first and only weak short opportunity. I explain on the annotated chart why I posted in that that this was not the ‘greatest opportunity’.
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