Trader's Daily Notebook: This Doesn't Mean the Advance Is Over

With roughly 730,000 E-Mini S&P 500 futures (Es) contracts changing hands during Monday's regular session, it's safe to say neither Friday's initiative buyer nor our responsive seller was interested in doing business following the weekend's French elections. For those keeping track, Monday's regular session was the second-lightest of 2017, after March 13. 

Daily S&P 500 Futures Volume Profile
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As tempting as it may be for some traders to interpret Monday's low volume, narrow range and lower close to mean the recent advance is nearing an end, I'd remind you that value during the regular session did migrate higher from Friday's session. Yes, trading was exceptionally dull. However, the dip beneath 2392 was short-lived, and that suggests lower prices are still attracting responsive (dip) buyers. As discussed in Monday's Trader's Daily Notebook, we'll continue to give buyers the benefit of the doubt as long as value remains above 2387 to 2388. ...292 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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