Jumat, 02 Juli 2010

No Fireworks

1000 held yesterday in the ES. As I start writing this, We are over an hour before the jobs report. The market has been going sideways all morning in London. I took ticks here and there before I took the dog for a walk in the park. Now I'm waiting, along with the world, to see if we get pushed into the depths of minus 1000 or whether it Happy Days are Here Again and people go into denial about the huge problems evident all around us.

Number was an anti-climax. Price played pin ball for a couple of minutes until there was a clear trade about 3 1/2 minutes later selling short at 1024.50 ish and riding it down to the VAL of yesterday's 24 hour Profile. Yes, I follow both Profiles as there is support and resistance in both. The market sometimes clutches at straws and the volume is visible if you look.

I was really done for the day after that trade as there was about 7 points per contract in the trade. And RTH hadn't started yet. But I couldn't resist and traded until the volume ran down as people left for the 4th July week-end. Some colour changes to the chart.

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