Pre-Opening Briefing: More Range Trade

We continue in a multi-day range in the S&P 500 (ES) futures contract, and are set to open firmly within the overnight range. I'll be watching volume closely to see if we can achieve escape velocity from the ranges, or if fading the edges of the ranges is the best game plan.

I find that too many traders assume that we'll make big breakout moves, rather than plan for a possible continuation of range bound conditions. With volume and volatility continuing to tail off going into the summer trade, running those mental "what if" scenarios that help you prepare for rotational markets that oscillate around average prices can be quite useful.
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