Sep 052013


Plenty of economic data this morning for traders to digest: Chain Store Sales, ADP Employment, Jobless Claims, Productivity and Costs, Factory Orders, ISM Non-Mfg, EIA Natural Gas, and EIA Oil report.  After yesterday’s big move up, surely today’s report would either give traders a reason to continue the up move or back fill yesterday’s move.  Nope… Nada… Nothing…  Today turned into an agonizing day of waiting for the ES to break out of a 3.75 point range.  It took all morning for the first order flow opportunity to unfold which is the only opportunity that could be used for today’s example trade.  After an entry is was 4 hours of sideways.  Small targets were reached but not much gained for a full day of waiting…  

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