Nov 142012
A heavy economic report morning with PPI, Retail Sales, and Business Inventories all missing expectations. A tech rally was expected as Cisco handily beat expectations last night. As it turns out; Cisco didn’t fuel a tech rally and the ES spent the morning working it’s way down to the DTG 63.50 level where I got caught not paying attention and missed the potential trapped traders at the level bottom. Over the next hour, the ES rotated up and then retested the low of the day. The failure to make new lows is today’s example trade.
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