RANGE BOUND: PLAY THE LEVELS 6/28/13

A BO-5 to BO-5 range day to end the quarter, the month, and the first half of the year.  Stocks rebalanced and a holiday on the horizon.  Will look for a slower pace until after the 4th.


ES TODAY

Yesterday we were looking for a test of the 1600 area prior to a sustained bull run higher, and PA was helping to achieve that outlook.  The BOT levels were release early for those interested.

[09:11] <CM> look for the test area discussed yday  (link deleted)
[09:11] <CM> pa in the pb to test 1600 support  1600.75-1601.5 zone
[09:17] <CM> us open BOT levels 1605.5-1602-1599.25


There was a long entry available prior to news from the Michigan Report, then the final June Consumer Sentiment release.

[09:42] <CM> quick scalp out until news drops  <1 min  (link deleted)
[09:43] <CM> this pmi has early release for a fee
[09:47] <CM> this selling is for bull entries at better prices!

And drop it did to the SB then a run to the BO-5

[10:00] <CM> fyi  sb  bo-5 94.25  we are mid range and can see a gap reversal
[10:07] <CM> sb bo-5  look for reversal to 1600 area 

PA had a gap at bars 6 and 7 and reversed on bar 8 to run back to the SB, then a range run to the opposite BO-5 to complete a range bound BO5 to BO5 range.