Sep 192012
The ES showed signs of a heart beat; waking temporarily to react the the 10am EST existing home sales report. It was very refreshing to see the markets react to a report; it’s been a while… Unfortunately the ES range remained tight and the only psuedo-trade opportunity was the retest of the strong 59 area on the back edge of the wide DTG 54 level in the last hour of the day. I say ‘psuedo’ because after a long day of staying inside yesterday’s range; there wasn’t much hope price could move far enough before the day’s close to consider a trade. I personally passed, but the opportunity ended up working.
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