Jul 092010

The ES was kind of a dud this morning.  Low volatility with heavy volumes on the offers keeping upward movement in check.  The best trade opportunity didn’t come until around 10:45am when price pushed into the 71.50/73 area.  Here the buyers tried to push price up further, but just could not do it.  The selling was heavy with very little buying trapping the buyers above.

The ES may pick a direction later this afternoon, but for right now it’s stuck on it’s POC and is showing little interest in moving anywhere.  It appears many traders have gone home for the weekend.

 Posted by at 2:05 pm

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