Mar 112016
With light news-flow overnight, yesterday’s ECB announcements is given credit for the Asian and European session bullishness. Oil has been acting much stronger with WTI now above $38.50 up from the low $30s just a couple of weeks ago. The light news-flow continues into the US session with no tier one data today. Volatility remains high after the ECB press conference. I expect volatility to start shrinking again as the ES is back up against significant resistance. Size bias is long into the US session open.
Note: today’s trade plan is based on the June 2016 ES contract. Volume has shifted overnight with the majority of the volume now trading on the June contract.
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