Tuesday, August 31, 2010

ES Futures Tuesday Review 08/31/10

After several days with above average ranges, today was a below average range day.

We got a bullish advance past yesterday's low early in the trading session. The market came back to test support. At the overnight high, we got a bullish hammer, which led to a test of the previous high. At that point, we started getting bearish hammers and a $TICK bearish divergence, which brought the market back to support. Typical action for a below average range day.

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