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
trading
Tuesday, 17 April 2012
Sunday, 15 April 2012
S&Ps now
++17_11_2011+-+13_04_2012.jpg)
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
Friday, 13 April 2012
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