May 062013
Expectations was for a quiet day with no economic data scheduled after the large run-up Friday. The only hope for some directional volatility was a early speech by the ECB’s Draghi in Italy. Nothing market moving came from his speech which made it difficult for the bulls to extend the highs since Friday was probably a little overdone. “Quiet” became an understatement… There were no clear order flow opportunities today. Reasons on smaller time-frames could have been found to short the DTG 13.25 level, but as you can tell from the chart in the post above, any short from that level was basically a wash as price stayed in a 3 point range the entire afternoon.
Sorry, the comment form is closed at this time.