April 12, 2006: Cnsld

The market bounced up as expected but nothing much to talk about in terms of major moves...all indices were trading in a tight range and consolidating...

Notice the pattern on ER(AB) which is one of my favorites...very very reliable to take on the long side...Also how YM got trapped between the MA and that was the story of the day..speaking of which, the Dow cnsld against resistance (previous b/o point)...

Based on the patterns the market should b/o in the morning.. Can go either way..

As mentioned yesterday, my expectation was for a down move although there was no gap down Notes & Bonds...they fulfilled their 'V'pattern by trending down hard and I was able to catch a dbl hump cnsld break on the short side yeehaaww hehe..

Weekly hi and low on Notes & Bonds were faded.

Their are couple of patterns worth mentioning, one if the arc on Corn (geez, I sound like an Idaho farmer) and the 2nd is on Gold. They both look like a breakdown patterns.