Well, an unfortunate day after a good one as three trades stopped in narrow choppy range early. Looks like the new rule of the day is going to be that the market will spike either way as various members of Congress and the White House come out and say whether or not progress has been made on the Fiscal Cliff. Should be fun. See ES and ER sections below.
Net ticks: -23 ticks.
As usual, let’s start by taking a look at the ES and NQ with our market directional lines, VWAP, and Comber on the 5-minute chart from today’s session:
ES:
Mark’s long triggered at 1416.75 at A and he called off any retriggers:
ER:
Triggered short at 818.90 at A on one note out of Congress and stopped, then triggered again 5 minutes later and stopped. I called off additional triggers:
