Jun 292012
A strong overnight move up on EU summit news had me with a bullish bias coming into the open. The ES oblidged beautifully as it nicely pulled back into the top of the DTG 38.75 level shortly after the cash open. Price bounced right off 42.75 and a posted in chat “possible continuation [long] if price retests 43”. There was a coin flip fly in the ointment, the Chicago PMI report at 9:45am EST and Consumer Sentiment at 9:55am EST. However the overall bullishness was strong and the reports would have to miss big to hold this market down. A retest of 43 did come, and so did the news. There were opportunities to get long.
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