After a great move up on Wednesday’s FOMC minutes, the ES continued to rally yesterday.
The price dropped within a couple of points of Nat’s buy level after Wednesday’s close and overnight traders who faded Nat’s entry may have been able to get long at that point.
Those who did could have captured about $900 per contract, which is a pretty good follow-through on the previous day’s profit.
However after the markets closed the news of the US attack on Syria dropped the ES about 20 points in the after-market. It subsequently recovered about half that loss, but the uncertainty will certainly affect the price action Friday.
We also have the Non-farm Payrolls in the morning which will also roil the market.