Out in the market the first week of trading for a brief respite.

And the market stay idle (sideways) in the range of 12330 to 12400 after it gap up in the first trading week of 2012.

Participants are gauging the market sentiments and may play position from this range.

Below is the one hour view of the YM showing the first four trading days of 2012.

Exited at 12330 for a gain of 20 points...two trades at 45 points total...

Putting sell limit to 12340...

Volatility is in the works...

Bought YM again at 12310 with stop at 12300...

Exited at 12320 for a gain of just 25 points...

Moving the stop to 12265...