Nov 122012
Today is a US federal holiday: Veteran’s Day. US banks are closed as well as the bond markets. I didn’t expect much volatility and the ES started the morning in a 3.5pt range. However, the did eventually push through Friday’s close to test the Globex low area in the DTG 72.50 level. The sellers tried hard to push beyond the Globex low, but couldn’t do it and eventually became trapped which helped the market climb after getting back through Friday’s close.
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