A RANGE READY FOR A SIGNIFICANT BREAK OUT 1/23/14

Range bound price action may not seem exciting, but the break out of a narrow range is exciting.  That break out occurred today, and we had a warning before the China and US data was released.

From last evening:

[18:26] <CM> range bound day waiting for the break out

[18:29] <CM> ES stays in a narrow range day 2 this action may not seem exciting, but a substantial break out is likely tomorrow: long look at 1842.25 short 37.25 stronger at 1835

[20:45] <CM> 42.25 selling..


30 minute ES

1842.25 to 1814.  A very nice run.....