'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Sunday, September 18, 2011

The market is on a range mode from this daily chart. Might see some volatility come Monday opening for some news coming from the Europe and the Asian markets.

Also from the Fed or other economic calendar news.

But for traders, any news that are forthcoming is a welcome development because that is where the opportunity knocks.

React to the news and not anticipate as well as be defensive all the time is the right thing to do.

Expect the market to be choppy, but there is a tendency to rally depending on the sentiment of the participants especially the big institutions.

Be watchful and observant traders...just form your trading ideas with the market movement and get involved...