Volatility is picking up; the ES had an 11.5 point range today driven by the 10am EST Philly Fed numbers.  Unfortunately, other than just jumping onto the ‘good’ news; there wasn’t a clear order flow entry from the low of the day.  It took another 4 1/2 hours to finally reach the DTG 1453 level where price double topped, setting up today’s example trade.  It turns out the trade couldn’t get legs and ran out of time as the day session closed. Continue reading »

Wow… Here we are in mid-September and the markets can’t find anything to give them reasons to move other than US or European central banks devaluing their currencies…  Like drug-addicts that got their fix, the markets are cowering; too apathetic to make any new directional commitments.  I for one do not care to trade when volatility gives no indications that price will move far enough to trade.

That said, the only hope of a trade today was the test of the DTG 49.75 level shortly after the cash open.  At that time, one could hope that there was enough volatility to carry price far enough to make a target.  That was the case this morning as price traveled 4+ points which actually set the 5.5 point ES range for the day. Continue reading »