The ES opened to low volatility after no reaction to the Jobless Claims and Personal Income reports.  The S2 pivot area looked like it was going to hold the morning and then, for whatever reason, price broke down and volatility picked up.  There were no clear price action clues, but the institutional buyers gave some clues.  Any long entries from the DTG 97 or 95.25 levels would have eventually worked provided a loose enough stop. Continue reading »