What a range on the ES!!!

I havent seen such a huge range on the ES in years.

Its become more difficult to stomach these moves. I mean a 3 point range.. what more can anyone ask for?


--MIKE

 

we could hover around 1150 for the next 3 months

 

I think upside rally could surprise people here, especially in nasdaq; last few days have been weak for tech and no one expecting big move before tomorrow's report -- might be good time for market to sneak up higher, JMO.

 

sometimes, I start thinkin' my data feed must 've stopped.

Too many traders chasing too little opportunity.
Especially computer/system traders.
The market has to get a lot of these people to quit/give up before a new "cycle" of decent ranges begins.

 

For the last 10 trading days, we've been within a point of the ADR on all but two days. What's the problem?

 

We had a wide range yesterday. Volatility is cylcal. Wide ranges are followed by narrow, followed by wide.

Right at the point where you get bored with the narrow range and go out to lunch, ES will move 10 points.

 

The bigger ranges is what "prunes' traders out !

 

well, 1 problem is when some bid/ask spreads begin to be the same size as the daily range in some stocks.

I know...you only look at indexes, etc, etc.

 

That's what the ES is.

And your name is "IndexTrader" because . . .