Wednesday, September 2, 2009

Wed. 09/02/2009 - Consolidation Day (Range Bound)

Consolidation day, which was expected, after yesterday's down trend from the open. Price remained within the over-night range all day. Best to fade the range extremes or just sit back and wait for a directional move out of the range. Jobless Claims data at 7:30 AM (central) tomorrow morning should provide some volatility and direction.

ES - 5-Min Chart for Wednesday 09/02/2009

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