Thursday 11 April 2013

Will The ES reach 1600 on the next session?

The inexplicable grind up continues confounding the intellectuals.  If we reach 1600 tomorrow, I expect a parade on Wall St to commemorate this amazing event in the face of extreme adversity.  This market is staying irrational longer than many people are able to stay solvent.

Anyway, there were no reason to short the market until later in the day when we saw another squat bar on the 30 min chart, which only sent the market sideways for the following 4 hours into the close.

Not really much to write about today.  I did not take any trades as I did not feel like trading.  I just watched price unfold on CL, ES and GC and also 6E.

Here are some ES screenshots







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