Nov 152012
Wow, what a day… We’ve haven’t seen this much bi-directional volatility in a long time with 10+ point ES swings up and down all day long. The ES spent most of the day bouncing between 3 DTG levels. Price opened in the DTG 53 level and tried to push higher, but the sellers soon overwhelmed the buyers and price tumbled to the DTG 49.50 level into the 10am EST Philly Fed report. The report came in with terrible numbers, but that must of been expected given the Philadelphia area was hit by hurricane Sandy. Price quickly showed buying after the report and setup today’s example trade.
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