Es Morning Trade
Review of Tuesday's Es Trading
Traders are always suspicious of buying strength (or into upside gaps) in a weak tape, but one very specific thing set Tuesday's open apart from the one we saw on Monday. Monday's upside gap failed to open and hold above the prior session's afternoon high, which in Friday's case was approximately 1374.50. But on Tuesday the Es opened well above 1371.75, and when traders attempted to fade the overnight strength the Es was unable to push back beneath Monday's afternoon high print. Essentially, Tuesday's early-morning test (and subsequent bullish rejection) of the prior session's afternoon highs told traders that demand was significantly stronger than it was just 24 hours earlier....645 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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