Es Morning Trade
Review of Tuesday's Es Trading
Despite Tuesday's very limited intraday range and the weaker-than-expected durable goods data (released at 8:30 a.m. EST), our premarket plan played out relatively well. The premarket response to the weak economic data took the opening fade from responsive sellers off the table, but the fake break of 1366.75 (our primary area of interest, and an area discussed in the morning's trade notes) and subsequent bounce back above that level gave scalpers an opportunity to secure favorable trade locations for a push back into the low 1370s. Admittedly, I expected the demand around 1366.75 to be strong enough to propel prices through 1372.50 and toward 1376.50, but that expectation was clearly overly optimistic....650 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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