Morning Update: 12/23/2011

Hello Traders:

11:33 pm…

Good evening… as I write this update the ES is making highs of 1257.25.  Tomorrow should be a quite market and I would advise not to trade, as typically the light volume makes it difficult to see any follow through.  I wouldn’t be surprised if we saw a slow melt-up hitting the 1264 area, after which we will probably consolidate the rest of the session.   We had a very successful trade in the ES in which we were able to lock in 40 points in a two week swing trade. ZB, 6A, and CL were also winners for us.  There are some major divergences as the market climbs higher and I would expect somewhat of a dramatic pullback. May consider shorting into next week depending on my research this weekend. Please enjoy the holiday and thank you again for following, please continue to check the blog and twitter for updates and trade alerts.

Trade Well,

Olof Thomas

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