Almost every pros thought that we would break out to a new high today when looked at the price action yesterday. My plan was to react to the new highs today. After the open, ES tested 1 tick above o/n high and started falling. It was totally unexpected. It appears that the ES formed a double top from May 21. However, the up trend is still intake. ES closed right below yesterday's low and positioned to go either way tomorrow. I guess it's waiting for Ben's testimony to Congress tomorrow morning. No one want's to fight Mr. Bernanke.
Expect unexpected!
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