Trader's Daily Notebook: Watch Out for Price and Value Migration

After a 10-handle decline to begin the day, the E-Mini S&P 500 futures (Es) rallied all the way back, to close within a single tick of the opening print and only three ticks beneath the prior session close. Hardly the sort of session traders hung up on picking a top expected to see.

The never-ending tests of both the eight-day and 21-day exponential moving averages are becoming a bit stressful for shorter timeframe bulls. But as we've been discussing in Trader's Daily Notebook, there's no reason to fade responsive buyers until these frequent day timeframe declines become more sticky, and value begins to migrate lower....469 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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