S&Ps nearing range resistance

Hope remains alive that this week's earnings reports will put a support under the market ahead of next week's Fed meeting. If earnings provide the upside catalyst we should have no trouble pushing back above 50dma and into the prior range.
As of now S&Ps nearing range resistance at 1386.87.

note_how the market closes today is going to be very important indication of the next market move

S&Ps now

Watch for the move back into the prior range above S&P 1386.87, and above the range, expect a move back and above prior highs
OR
 if that doesn't materialise, be ready for a trade below last week's lows, 1351.36 at a minimum.

Earnings season is in full swing coming week.

Options expiration week.

note_ in this low confidence, low volume and high volatility environment, being patient and staying disciplined is very important

Humility

humility = edge

Humility comes when you acknowledge and accept the truth, which is that you don't know what is going to happen next. You can only see clearly the truth of the past and the present _which is prerequisite for successful action _when you look with humility.~Mr.K

"Humility is the solid foundation of all the virtues"~Confucius

Acceptance and Rejection

http://etradingrealtime.blogspot.ca/

S&Ps as of now

                                   short-term view


additional note_ very emotional environment, Wednesday being the biggest loss day for the year and Thursday being the biggest gainer for the year

from the watch list ZNGA

follow up on RENN

weekly view

http://finviz.com/quote.ashx?t=RENN&ty=l&ta=0&p=d

the Swiss two-year went negative earlier today

follow up on RENN

http://finviz.com/quote.ashx?t=RENN&ty=l&ta=0&p=d

trading range is broken_

_further follow through price action confirmation below yesterday's low will put a bearish range break setup in motion

Happy Easter

http://www.tudou.com/programs/view/XH5W4vffBbY/

elite traders

Benjamin Bloom, Dean Keith Simonton, and K. Anders Ericsson have studied elite performers, and their research points to a few commonalities across fields. The elite performer is in his or her niche and so has a strong emotional bond and commitment to self-development. The elite performers are also ambitious: they really care about becoming as good as they can be. Finally, they put large amounts of time into developing themselves. Their practice and work provides them with a sense of “flow”-it doesn’t feel like work to them.
The learning of the elite performer is qualitatively different from normal learning. The normal learner learns to do common things well. But the elite performer learns to do uncommon things. The immersion in learning generates an element of creativity. It’s why genius truly is more a function of perspiration than inspiration.

bears are coming out

Bears are suggesting that the top is in and we are set for an April crush, but we'll focus on price action itself which still remains within the range (see blog below regarding the trading range).  If this rally is done, the range must be broken first.
Next week earnings season begins and together with this correction will set the stage for some new trading opportunities.

FOCUS ON S&P cash 1400 AREA

S&Ps 1400 HAS BEEN A PSYCHOLOGICAL SUPPORT ON RECENT BREAKS

some interesting chart patterns

flags b/o

                                stair stepping trend then channel

                     

mr. HG breaking TL

The information contained herein is for educational purposes only and is not, and should not be construed as an offer to hold, sell or an offer to buy any securities.

Looking for a break of this tight trading range_

_ and any subsequent follow through. The biggest opportunities will occur when we begin to trade out of the range and ether succeed and begin to accelerate or_we trade outside the range, fail, and trade toward the opposite side.

incongruous

"Man, because he sacrifices his health in order to make money. Then he sacrifices money to recuperate his health. Then he is so anxious about the future that he does not enjoy the present; the result being that he does not live in the present or the future; he lives as if he is never going to die, and then he dies having never really lived."

-Dalai Lama

Fed stimulus games

Traders can learn from Edison.

The average person would have quit at the first failure. That’s why there have been many average men and only one Edison.

"Thomas Edison once observed that the reason most folks don’t recognize opportunity when it comes knocking is that it is often dressed in coveralls and looks like work. Edison knew that anything worthwhile never comes easily; if it were easy, anyone could do it. Because he persisted far beyond the point the average person would consider reasonable and rational, he produced inventions that even the most learned people of the day considered impossible. Great advances in knowledge are often achieved by people with an almost fanatical devotion to finding the solution to a problem. Flashes of inspiration alone are not enough to ensure success; they must be followed by determined, persistent action." -Napoleon Hill

_highly recommended book_ "Think And Grow Rich"_ it could change your life

watch S&Ps cash 1400 area_it is an important psychological level

@_ Be aware of window dressing over the next three days as fund managers reconfigure their portfolios for the end of first quarter.

There are two kind of trades_

_there are winning trades and there are learning trades.


Maturing as a trader involves deep desire to be one, discipline, focus and the ability to make decisions. How do you get to this point? Make decisions and learn from them! I openly admit that I have made lots of mistakes in the market, and I still make mistakes. Thankfully, I’ve learned from them and now try my best to minimize those mistakes. The key is to make a decision without worrying that you might be wrong. As long as you learn from it, you can correct it the next time. Again, just make the decision, and make the money or learn from it. Wash, rinse and repeat.