CL Redux

Quote from JoshDance:

What a day -- only one 5m bar with 4200 contracts, all others less than 4K ... BCE you were right, slow range day.
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Yeah, I was kind of expecting a day like this. Until the debt ceiling issue gets settled, or doesn't get settled, this may be mostly what we get.
 
Going to call it a day. Have some other work to do. +162 ticks. A lot better than I was looking for. I'll take it. Have a great evening.
 
Quote from BCE:

Going to call it a day. Have some other work to do. +162 ticks. A lot better than I was looking for. I'll take it. Have a great evening.
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Man.... those are great results on a day like today with heavy chop!


Cheers,

Wolf
 
Probabilistically, we should have movement up today. Yesterday was an inside day, and Thursday broke north out of a congestion. Not forcefully mind you, but still, it broke up. So, we've had two days of consolidation on progressively lower volume (just over 200K today, yuck). Just based on what happens more often (the edge), a move up is, IMO, more likely. Incidentally, we are knocking on the door of the high of the 6/15 big down day (and on the continuous contract, we have poked above it already), which is near the median of the May/June range and was where 100 traded for the last time before recently.
 
Quote from JoshDance:

Probabilistically, we should have movement up today. Yesterday was an inside day, and Thursday broke north out of a congestion. Not forcefully mind you, but still, it broke up. So, we've had two days of consolidation on progressively lower volume (just over 200K today, yuck). Just based on what happens more often (the edge), a move up is, IMO, more likely. Incidentally, we are knocking on the door of the high of the 6/15 big down day (and on the continuous contract, we have poked above it already), which is near the median of the May/June range and was where 100 traded for the last time before recently.
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Good post theres a huge amount of volume in the 100 range the last few months

http://www.elitetrader.com/vb/attachment.php?s=&postid=3246220
 
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