Jun 102013


A no report Monday after a big up trend day on Friday usually means a lower volatility, range type day.  Volatility certainly slowed down this morning and volume was much lighter than last week.  The ES cash opened by pushing to new high in the DTG 48.75 level.  Price action was signalling a short, but the institutional sellers were not committing.  It was unfortunate not to get an order flow short opportunity since the ES dropped to fill the gap back to Friday’s close at 1638.50.  In pre-market chat I posted: “intermediate trend is up…  37/39 area could be a good continuation long area…”  The ES unfolded into a double bottom in the DTG 38 level and institutional buyers can in strong defending Friday’s 38.50 close.  A very clean order flow long opportunity.  

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