Last night's trading session was as slow & as boring as it could get. PRICE movements were at a crawl & volume dried up considerably. With the Good Friday long weekend looming, bullishness was expected (market tends to be bullish prior to a holiday - I heard about this "observation" made by someone before).
PRICE has yet to fail (heading up) but do expect some retracements next week as we still need PRICE to head back down to challenge last PRIME Support (TREND Chart), to give us a Higher Low (HL), before heading higher again.
Friday, April 06, 2007
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5 comments:
How much in trading volume will it take for your day not to be a boring day?
Hi,
thx for dropping by...
generally, for the S&P emini(ES), the good volume days are in excess of 1-1.2 million contracts traded within the trading session.
oh...at the same time, there must be sufficient PRICE volatility, for one to trade effectively.
Sweet. In cash figures, how much is that?
Looks like a lot.
most of the futures contracts are traded on margin...in other words, only a fraction of the actual contract amount is placed, to buy or sell one single contract. Somtimes the amount is even lower, as some of these contracts are "daytraded", which means that the position is opened & closed within the trading day. Hope this is the answer you are looking at...
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