May 132013


After a few days away from trading, it was nice to find an opportunity early.  The ES was caught in the middle of a 3 day range coming into the cash open.  The Retail Sales number beat expectations, yet the ES was not able to climb back to yesterday’s close area to close the gap.  Given the the 10am EDT Business Inventory number is usually not a market mover, there was a chance that once the report is out of the way, the bulls would at least close the gap to Friday’s close at 1629.50.  The ES dropped to the bottom of the DTG 23.75 level into the 10am report.  After a couple minutes of digestion, a long opportunity unfolded for today’s example trade opportunity. 

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