Sep 182012
Wow… Here we are in mid-September and the markets can’t find anything to give them reasons to move other than US or European central banks devaluing their currencies… Like drug-addicts that got their fix, the markets are cowering; too apathetic to make any new directional commitments. I for one do not care to trade when volatility gives no indications that price will move far enough to trade.
That said, the only hope of a trade today was the test of the DTG 49.75 level shortly after the cash open. At that time, one could hope that there was enough volatility to carry price far enough to make a target. That was the case this morning as price traveled 4+ points which actually set the 5.5 point ES range for the day.
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