Bank Your Profits...Now or Never?

The market's sentiment is not quite looking good as can be seen from these charts (shown below). Is the 'sell in May and go away' is in the store? I guess that's what these charts are growling. A head and shoulder pattern is forming (or it formed already?), a sign that the market is headed for a correction or is going to tank? Your guess is as good as mine. Brace for yourself, shorts (the bears) are in for the haul. Nobody knows what the market is going to do from these kind of patterns, all are in the same scenario. Profits are in for the taking, so take yours while the market is still in the uptrend.

 

 

 

 

 

 

The Market Rallied

The market went up smoothly today. As soon as the bell rungs, the market rallied and never look back. The bears can't do anything except to ride with the bulls behind their back and abandoned their positions. Nice to trade today, just buy in the open and sell in the close. You can make a profit equivalent for a week paycheck? Tomorrows market might get stalled a bit, probably because the market seems to get tired because of today's market action. That's normal, for the market is participated by humans. Human emotions drives the market movement. The daily chart below shows that we are in the bull market. Let's see where do we go from here. But come the month of May, where the usual adage of 'sell in May and go away' might be in the offing?

 

 

 

 

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.

Friday's market trade

Friday's market was not that kind of a tradeable one unless you do scalping.

But i did find one that can be traded upon.

With the chart below, though this is after the fact, but at least we can find an education for future trading.

The market drops hard when it surge before the open but did find resistance within the pivot line.

Opening for an entry after the participants lunch break.

Notice the uptrend line, it shows a higher lows.

The exit is within the R1 level.

This is just for our educational trading development.

 

 

 

 

Market On A Roll!

The market is on a roll for real!

Shown are the charts from the Tuesday's session from the leading indexes.

I guess the bears are in for a long nightmare.

The only way they can recover is to 'day trade' the market.

But for long, they are in for a long haul.

Though the market cannot be underestimated, it is always subject for a surprise drop.

Especially when its time to make profits.

So watch out!

The market starts rolling?

I guess that's what this chart says so.

Whenever the bears tries to take down the market, the bulls are always there to protect the market from falling.

Notice the resistance from the 2700 level, since the start of the year 2013 the market always bounced from that price.

Though it quite move erratically, the market seems showing strength.

Friday's Market Action

Don't have much things to post the past month or so mainly due to the choppiness of the market since it surge big time in the first week of January 2013.

From thereon the market turns to boring mode and if you are not used to it you will hibernate.

But that's how the market is, either you love it or hate it.

And if you lack patience you are not supposed to be in the market.

The market exploded last Friday's session after a month of consolidation.

The best bet last Friday's trading is to buy from the pullback in the open and sell before the close.

Big time money for traders last Friday's market.

I'm sure all of them are oozing in the bar after the market savoring their profits.

Let's see come Monday's session if there is a follow through.