Jul 262013
 

trade_130726

It turned into an interesting day with much more price movement than I was expecting.  After the ES had drifted back into the middle of it’s weekly range pre-market, I thought the stock market volatility would die after the morning’s Consumer Sentiment report was digested.  The morning played out as pivot bounces.  First the ES came down and bounced off the S1=75 pivot pre-market to grind up to the PP=80.75 where it bounced once again back down to the S1=75 in the bottom of the DTG 75.25 level.  A long opportunity unfolded but then shortly afterwards, the IMF released a negative US economic outlook comment which immediately collapsed the ES into the DTG 70 level.  After absorbing the news, the ES unfolded into another long opportunity after it double bottomed at 70.50…

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