Change of character?

This late drop looks and feels different from prior corrections during this "bull market" since last march.  It still needs to prove itself but the weak rebound attempts made were too obvious to ignore.  Here is what happened after Friday's gap and crap.  Shorting on any rebound attempt seems to be the better choice.  There looks like no support until SPX 1030 area from here.

Where we will launch the next bull leg?

Admittedly as a bear, unfortunately a wounded bear since last march, the turn today had been a good relief, especially after the frustrating grinding up over holiday.  But I'd learned that tries to look to the all sides possible will keep one, especially a bear, lives longer in this market.  Here is a chart that looks into bullish scenario that may occur in the coming week(time sensitive IMHO).  Any bearish scenario may have to come after next week since the probability we break 1100 level is very small at this moment.

Here is the chart and have a good long weekend!

My messy ESH0 charts

Following are ESH0 charts from different time frames in 30 mins bars.

10 days

20 days

 

30 days

60 days

One more pullback for GOLD and then to the moon?

Tonight the Eur/USD finally filled the gap from few days ago. YG had filled its gap early.  Here is one 60days YGG0 chart shows a bottoming process going on with the gold though on the short term time frame, within a week or so, there may be a chance for a pull back to the 1115-1120 blue area on the chart, but I expect gold

finds a strong support there.

Welcome to the year 2010!

Welcome to the new year!

I am expecting to see a exciting trading year ahead and I decided to start this blog to share with fellow traders the notes and thoughts that I have related  to trading.  Being a new trader(only being active in trading less than two years) I have alot to imporve and alot to learn, I hope by sharing my thoughts would bring in the critics and insights from other traders to help me to grow.  And hopefully to profit from the  market together along the way.

A prosperous and profitable trading to everyone one!