From this daily chart (YM) which is the e-minis futures of the Dow Jones, we cannot really predict where it is headed. It is either bulls today, bears tomorrow, or the idles.
Let the Wall Street occupiers do their thing, for us traders (in home) as long as there is the market the exploration (or exploitation?) of opportunities will always be there. Sorry to disappoint the protesters (or the occupiers?), Wall Street will always be there.
So from this chart, the only way you can exploit the opportunities is to watch the market daily and form trading ideas to find a good location to trade.
The market is in the sideways range now for the past two months and no one can predict what's going to happen due to the unpredictable events that is coming from anywhere in the planet. The market is now driven by the news if not the rumors.
As they say, buy the rumors sell the news or make it vice versa, That depends on how you interpret the market.
That's why trading is all about your own understanding and interpretation of the market. No one can help you to trade the market profitably, except (you) the trader itself.
There is a tendency the market might stall by Monday or for a few days more then it will thrust to the next support/resistance at 12000. I don't think it will go down further from 10500 unless the Fed will take inutile action.
Trading is all about watching the market, as the saying goes..."I made my money in trading by watching and sitting tight". That may be true, but sitting and waiting is the most boring time in trading that's why few are having the patience to succeed especially in trading.
