Monday, November 02, 2009

Midday Briefing for November 2nd: Not All Range Trade is Slow

Watching to see if we return to the overnight range in the ES contract. Significant buying following the 9 AM CT numbers has been met with significant selling, setting us up in a broad trading range for the morning. Volatility remains high, but we're not seeing trending action in NYSE TICK. That creates sharp moves up and down within the range: not all range trade is slow!