May 282013


It’s always tough to have a feel for the market after a 3 day weekend.  Structural patterns are odd because of the extra Globex session and pivot calculation are messed up as some traders have software using Monday’s Globex session for daily high and low prices while others us the correct Friday’s daily prices.  This morning was up significantly overnight reflecting the some dovish ECB statements.  By the time the ES opened, it was testing the DTG 64.75 level which unfolded a weak short order flow opportunity which ultimately was a losing opportunity as the stock markets were not down probing higher yet.   My high frame for the day (posted in chat) was 1670 to 1673.  The ES reached 1672.75 about an hour into the session before beginning it’s slow 20 point tumble into mid-afternoon.  A short opportunity unfolded after the high of the day was put in.  The entry was a shallow pullback against an uptrend market and I was thinking long at the time so it slipped by me and I missed the trade.

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