No calls on a Friday for the futures contract roll. This day every quarter tends to be very dangerous as the big players are just moving their trading to the new (H3 – March 2013) contract. Given that it is also a Friday in December, things were very dull. The ES traded in a 5-point range until the last hour when things finally slipped. You’ll note in the charts that we barely touched any key levels.
Net ticks: +0 ticks.
As usual, let’s start by taking a look at the ES and NQ with our market directional lines, VWAP, and Comber on the 5-minute chart from today’s session:
Late in the day, we had a 9-bar setup move down to S1 that led to a bounce: