'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, December 11, 2012

Market Will Santa Rally?

The way it looks with this daily chart from the Nasdaq futures, there is a 'spring coil' the market rally.

It is forming an inverted head and shoulder pattern, or a cup with a handle.

A pattern that a bullish scenario is unfolding the last few weeks of market trading this year of 2012.

The way i look at it, the target till the year ends is at around 2800.00 plus.

A buy signal is now appropriate with stop at 2600.00.

Let see come the days ahead if it will sustain.