Jun 242013


The downtrend continued into the cash open.  There was no pre-market economic numbers to give the markets something other than Fed fear, so stocks will continue searching for a short-term bottom.  The ES had rotated off the DTG 65 level which has been marked as SOLID support since April.  If any area was going to hold the ES early, it would be the 65 area.  After the cash open, the ES retested the DTG 65 level and quickly ran the stops below where buyers started stepping trying to turn the ship around.  A couple of order flow opportunities unfolded and are today’s example trade.  It’s nice to finally get a win on an early first trade, seems they have been few and far between the last couple of weeks.

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