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

Monday, May 7, 2012

Monday's Trading

The market barely made a move today for it's Monday, a day participants starts to gauge each others throat where the markets headed.

It consolidates on a choppy range, but the bulls somewhat looking for an upper hand.

Other than the news coming from overseas, the market is just waiting for any favorable news to make its move.

Don't see any probable setups from the QQQ (NQ) today, other than to scalp the overall market index.

Let's see for the coming days if there will be a jumper trade, but it usually happened in the overnight session.

Unless you watch the market like a hawk in the wee hours of the Globex session, you cannot catch the real meat.

After that, the regular open is the real hard battle where the pros always makes the action to profit.