Trader's Daily Notebook: Session Didn't Cast Much of a Shadow

We didn't expect Monday's auction to produce much in the way of high volume or sustained volatility, and a generally quiet session is exactly what we got. All major equity futures contracts finished the regular session within spitting distance of their opening print. And volume, while not anemic, was on the light side. I believe we can all agree Monday's coast-to-coast solar eclipse won out over American productivity.

Based on Monday's lack of bearish follow, shorter timeframe traders will likely be stalking one- to two-day bounces in names still holding above recent support levels or higher timeframe moving averages. Those not scalping over a short timeframe, however, are apt to sit on their hands and await slightly higher prices to sell into....378 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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