Trading plan for Feb. 10, 2016

160209-ES-daily

ESH6 Frb. 9, 2016 Daily chart

ES made the same movement as the previous day: Gap down at open and rebound at the close. It is waiting for Mrs. Yellen speech to Congress today. And the Street is waiting for the Fed to signal its intentions to determine the direction of the next move.

Yesterday the ES traveled inside the prior day’s range. It did attempt to fill the 1865.75 gap but failed in the last half hour of trading. It may try again overnight.

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