Nov 192012
After a good move higher overnight and some volatility through the 10am EST housing reports, the US stock markets went into holiday mode. Volatility shrank making any day-trading almost unbearable. There were a few opportunities for small targets for the attentive, but I found myself losing interest as the day grinded on in a narrow range. The ES did manage to continue grinding upward into the first 4:15pm EST close.
Today’s example trade is simply the first clear opportunity of the morning. The ES did not oblige as it started to slowly grind for the next several hours until it signaled it was time to get out.
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