Aug 262013


With Durable Goods Orders @ 8:30am EDT and the Dallas Fed Manufacturing Survey @ 10:30am EDT, there was hope of some directional volatility this morning.  The ES did climb to the DTG 65.75 level after the Durable Goods number where today’s example order flow opportunity unfolded.  However the day fell into a low volatility consolidation like last Friday which lasted most of the day until some twitter chatter started by a Russian Ambassador.  I had warned this morning in chat that speculation was running high that the US might get militarily involved with Syria and the Russian Ambassador’s tweet warning the “West” of consequences started a negative reaction in the late afternoon stock markets.  For those who could wait all day in their short positions for the ES to move got rewarded.  Details of today’s example trade are in the annotated chart below:

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