Aug 022013


I had high hopes coming into the this morning with heavy economic data to move the markets.  Unfortunately the employment and personal income numbers came in mixed and traders didn’t know what to do with them.  The bears controlled price after the announcement, but by the time the cash market opened, volatility had dried up and  the ES spent the next several hours grinding between 1696 and 1700.  Finally during lunch time, the ES broke up into the DTG 1700 level and sloooowly unfolded into the only order flow opportunity of the day.  The bears could never really get any traction and crossing the WVAP again would prove to be too much.  It took all afternoon, but the ES slowly grinded up to close the week a new all time highs making the trade either a scratch or small loser…

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