Monday's session was one of pure price inaction. Stock index markets flopped sideways as the Dow finished slightly green while Nasdaq closed slightly red. Just another one of the non-event days that mark time between normal to large-range days sprinkled in, here & there.

ES (+$50 per index point)

S&P 500 futures pretty much rode the daily pivot point value in total sideways fashion. Not much to be done with this one of real consequence. With a total session range of 6.25 points from tip to turn, it measured far below a normal range day.

ER (+$100 per index point)

Russell 2000 futures made some small swings in gyrational fashion, most of the moves coming from surge candles higher or lower. It was possible to scalp out modest gains at best, breakeven performance at worst while using the right technique.

Summation

Daily chart measures remain intact from Monday's post following inside day sessions. Indexes remain quiet as they either work off grossly overbought conditions in sideways fashion or jostle around for further downside backing & filling below. Not a soul on earth knows which way that will be, predictions are glorified guesswork at best. Right now we see major indexes showing signs of weakness except for the Russell 2000, S&P 400 and Dow Transports. Sooner than later all sectors will move in unison, and they'll move lockstep for awhile. Until then, sideways churn thru this period of consolidation continues. Day trader's market conditions prevail, swing traders wait patiently for the next directional break to come.

Trade To Win
Austin P
www.CoiledMarkets.com
(Online video clip tutorials... open access)

Austin Passamonte is a full-time professional trader who specializes in E-mini stock index futures, equity options and commodity markets.
Mr. Passamonte's trading approach uses proprietary chart patterns found on an intraday basis. Austin trades privately in the Finger Lakes region of New York.