'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Thursday, March 8, 2012

The market finish high today and it formed a saucer pan? pattern.

Looks like it might fail two hours before the close but went up vertically afterwards.

Nice setup if you were able to enter at 12880 level and close it at 12930.

The market is back on track again after dropping 200 points plus last last Tuesday.

The market gap up in the open then drops after an hour or so to make room for the profiteers.

It is forming a (little) cup with a handle as of this posting in the futures market.

Buying at the consolidation is the most appropriate to enter as far as I can see.

Futures markets are on the rise from this overnight session.

The market gap down when it opened late in the afternoon and continues its upward momentum as of this posting.

Let's see if its going to maintain its upward trend in the regular open.

Wednesday, March 7, 2012

The market made a dramatic revenge today from yesterday's tumultuous pounding by the bears.

This time the bulls are always ready to counter any attack the bears they are trying to bring in the table.

One good trade today is at the consolidation level 12780 that leaps vertically from thereon.

Buying at that level and selling at the close is the trade for today.

The market made a stunning surprise reversal today when it sank yesterday from the deep hole.

A sign that the bulls can easily? turn the tide against the bears.

Tuesday, March 6, 2012

The market was not able to make a reversal when it drops hard due to European and world economic concerns.

Not much opportunities to trade in this kind of market environment.

The market drops hard due to European and world economic concerns.

The biggest drop in the market from the bull trend the past three months as reported.

I don't see any possible trade (as of this moment and till the close) from this chart.

Might as well watch the market and stay on the sidelines.