Jul 012013


It’s the start of a holiday week which means volume could be light and volatility low.  There were a couple economic numbers this morning to give the markets a reason to move.  The ES pushed higher almost immediately after the cash open into the DTG 12 level.  The institutions were initially not interested, but as the 10am EDT reports got closer, they started selling.  A couple of short order flow opportunities unfolded but as I warned in chat, they were up against the R1 pivot and VWAP.  The ES kept a narrow range above the R1 into the 10am news which turned the short trades into a coin flip.  This time it came up tails and short trades lost.  The ES quickly headed into the DTG 17 level without any significant pullbacks.  As I posted in chat, I wanted to be long above 14.50 but unfortunately the ES didn’t provide me with a good opportunity.  Volatility then died in the 17 level and I headed to lunch.  Unfortunately for me, a couple short opportunities in the DTG 17 level slowly unfolded while I was away.  These opportunities are today’s example trades.

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