November 4, 2005: Chop (bucket)

Was I craving for chinese food? chop chop is what we got in this session.... nice thing is that market gives clear signals to stay out... er, did I say clear?? I meant 'mixed'...:P breadth is -ve while most indices hanging above emas... that should tell me to stay out of market or follow breadth if taking aggressive trades.... AB was about the only one which lined up on the short side...this market is still strong but the daily needs to consolidate.. I like the fact that semis and Naz were strong throughout the day even though it was a Friday!! Note: will follow 1-bar reversals on 10-min chart...




About the only observation here on these tarts (hehehe) is the YM consolidating above ema so no short... also same with AB towards end of day so no longs....Other than that it was best to take the setups and follow breadth along with tight stops....Can't get anymore reliable than this, I'm proud of this system!!