After trading in a consolidation range for the past three or four day, the ES broke out of that range yesterday.
The ES bumped along at Nat’s keyline in overnight trading on light volume.
But once the day session opened the price spiked briefly to 2377.50 — a fake rally designed to shake weak shorts — before dropping sharply on heavy volume and crashing through her buy level.
Both overnight traders and subscribers to the trade room had ample opportunity to enter on the short side at the keyline and exit at the buy level. That trade was worth roughly $850 per contract.