Es Morning Trade

Wednesday's trading was exceptionally quiet, though it did have a noticeably weak feel to it. Coming into the regular session I opined that our focus should remain on the area between 1361.50 and 1354 and, as you can see on the chart below, once 1356.75 support was cracked the Es traded immediately to 1354.

As expected, demand was strong in and around 1354 and our resilient dip buyer prevented any serious downside extension from occurring. The bulls were no doubt pleased to see our dip buyer turn active where he did, but one can't help but notice how stunted the early-afternoon rally from 1354 ended up being (and how quickly the gains were ultimately given back)....365 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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