Jun 282012
The markets looked like they were going to wait on any news for the EU Summit this morning as the rotated within a 4 tick range. Then price volatility picked up as headlines about a Supreme Court ruling on Obamacare hit the wires. The ES quickly dropped and bounced. I won’t pretend that I can interpret the impact of the ruling on the markets, all I can do is trade the opportunities if they arise. After about 15 minutes of digesting the 90 page ruling, the ES started selling off again. This time as it approached the low of the day, institutional sellers were piling on and price kept moving down. The DTG 8.50 caught the falling knife. The next retest of the low of the day setup our example trade opportunity for today.
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