Looks like it's a quiet open...

Bought YM at 12095 with stop at 12070...let's see if it will work...

Good morning fellow traders, the market is slightly trending up.

It might consolidate for quite a while because of the resistance at 200 MA.

Might be a good time to find the right location for a long entry.

Unless some big news that might influence the market, I don't see any big reaction from the participants.

Let's see how it goes and we'll just keep watching.

Just showing the concluding chart that I showed earlier that a pattern like this usually stalls or breaks down.

Was right for it breaks down two hours before the close.

The market turns ugly at the later part of the trading day.

It gap up early in the open pit from the Globex session and was able to maintain its momentum through the middle part of the regular trading.

Only to do a somersault act two hours before the close.

Lots of break out traders caught off guard by the sudden turn of events.

Good for the shorters, they made a good job shorting the market.

Lots of bulls got nervous from that sudden drop.

But I think that was just a reaction/pullback from the on-going trend.

It might consolidate some more prior to the big move in time for the holidays.

The market drops suddenly for a loss of 27 points...

Whenever a pattern like this develops, most likely it will stay that way till the close or it may drop...