ES Journal - 2012

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It's interesting to me that there were two volume spikes of nearly the exact same size. Maybe one to sell the news, and then the second one to cover?
 
Quote from JoshDance:

OK, a 52.4 vs. 54.6 expected ISM number is NOT large enough to warrant such a massive spike down. It seems to me that this market wants an excuse to sell.
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I think this is a precursor to things to come. Nothing in Europe has been positive either, except increase hire purchase (credit) and credit card usage.Consumer spending lower=means US exports will drop.
 
i see "wedges" in our immediate and hourly "future". eur/usd has a nice bull flag to eyeball as does naz (slightly) on the 15 min/ 2 days,.

pick up my guitar and play, just like yesterday.....
 
I hate to say it but I am guessing, based on my criteria, that today will be a usual low range, in balance day. I'm taking my profits and losses quickly today, as I just don't see this market going much of anywhere outside the current range, but hey, who knows, it might surprise me. EDIT: should add that the volume is 1/3 higher than normal, so that would point to a higher possibility of range extension -- maybe it will push up, we will just have to see.
 
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