The market is at major resistance and the traders know it, typically when the market reaches a key area, it's price action deteriorates as a battle for a top or breakout commences.
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Why have Index Futures been less tradable in the past three weeks
- Thread starter Robertwiz
- Start date
Euro finally moved out of a tight range, and thus US Dollar was selling off again. Euro in rally mode to 2600 level last week helped get NYSE buying active again, as Dollar was dropping. ES traded to 1424 to get some decent range extension with the currency moves. No more NYSE buying again imo without Euro rallying. I will not be surprised to see markets selling down again if Euro trades back lower to 2400/2300 levels or lower.
From what I hear, August is usually not optimal for trading because the majority of the significant players are not active during this month. It seems like a good time to take it easy, refine your skills, and not to expect too much.
Quote from TraderToad:
From what I hear, August is usually not optimal for trading because the majority of the significant players are not active during this month. It seems like a good time to take it easy, refine your skills, and not to expect too much.
August 2006 was volatile due to the Lebanon War.
August 2007 and 2008 were not slow either to financial crisis!
August 2009 and 2011 were also good.
All good trading months if i recall correctly.. not sure about august 2010..
Sometimes the market just gets lazy regardless of month, and when that month happens to be august..