Today's Market Recap

 The market open up today only to lose it’s steam due to Cyprus problem and maybe due to profit taking. Trading early today is not a good option for in the first few minutes into the open, the market was volatile. Lots of pressure in bringing the market to go down. And the bears were quite successful. I can see a probable short trade from the settlement price when it has a form of ‘h’ pattern. Actually, there are two ‘h’ formation, the last one between the hour of 12:00 to 1:00 pm ET. There is also a pattern of inverse head and shoulder from 1:00 to 3:00 pm ET. Trading early today is not quite advisable and not good. The market today needs some time to develop in determining the trend.