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

Tuesday, May 29, 2012

Tuesday's Market Action

The market gap up in the open only to reverse its move before noon.

To trade today's market is to buy in the open gap and sell before noon time when it starts to drop from the 10EMA.

The second trade is to short thereafter (the MA/EMA crossover) and cover from the R1.