Bought YM in the open at 12000 with stop at 11950...this time the stop is wide enough...to counter the volatility...

The market is gaining ground from this overnight session.

It consolidates within the resistance range of the 200MA.

The market is waiting some kind of convincing sentiments to advance for a breakout.

Today is Friday, a profit taking day for the traders.

But I don't see any more profit for the taking because most of it was already taken the past two days or so.

I think from my perspective, a positional technique might be the play today.

The market tumbled today due to negative reports from Europe.

Lots of selling pressure were recorded and was continuously till the close.

Don't know what's going to happen tomorrow, but we'll monitor the overnight session to find out if the downtrend will continue.

Lots of traders/investors are waiting for the Santa Claus rally, and the signal is still far fetch or not clear.

The market was not able to get off from the slump and continues its downtrend.

A not so convincing sentiments from the participants.

Trade did not work out, stop got hit, lost 25 points...

Bought YM at 12065 with stop at 12040...

Market starts to stabilize...

A pattern like this takes time to develop/stabilize because of high volatility.