Nov 202012
The cash open started with the ES dropping into the DTG 78 level. Volume was light and volatility was a little whippy. It didn’t take much time for the ES to offer it’s first trade opportunity from a double bottom at 1378.25. Given we’re in a pre-holday market; it’s usually best to try to get a trade early before the volatility dries up like it did yesterday. Today turned out to be a little different with as Bernanke made an unexpected comment about the Fed’s powers are not infinite. This was enough to temporarily spooks the markets to new lows, but the ES spent the afternoon climbing back to pre-comment levels. Anyways, today’s first opportunity was early and worked out just fine.
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