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

Wednesday, February 29, 2012

The market struggled today and just zigzag its way till the close when it opened slightly above its Tuesday's close.

It is struggling to get off from the 13000 level.

I guess it might struggle further till next week.

A bull trap is in the offing?

That's what everybody is expecting.

The market formed an inverse head and shoulder or a cup with a handle pattern today when it drops at around 11:00 am. ET.

Was expecting the market to rally when it reach the critical level but it failed.

Lots of programs are contemplating on that 13000 level.

So that is where the battle is, let's see who's going to prevail.