Morning Es Trading

Thursday's Market Review

This may come as a surprise to those that believe the Es contract is grossly overbought, but in the past five sessions (from Jan. 24 through Jan. 31) the bulls have only managed to tack on a measly six ticks (on an RTH closing basis). The bottom line is that the Es is currently burning off its overbought condition via sideways churning, rather than through an obvious drop in price. And while this is an obvious annoyance to those that make their living trading the intraday rotations, it's imperative that we see the market for what it is. And at the moment it appears content to work through its overbought condition as a function of time....601 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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