Range bound or trending market

Nikkei Overnight Trading Was Up

Overnight Trading U.S. Stock market was mixed overnight Mixed most of trading session Last weeks strong momentum took a lot out of the market Stocks looking for direction right now!

The Fundamentals No major economic news till later in the week Markets will be range bound and choppy during this period Look for mostly technical buying and selling for next two trading sessions

Stock Market Intraday View

Support Area Is Slightly Below 1600

Stock Market Daily View

Critical Support Level On Bond Futures

Current Positions – MGA

Maintain stop loss level slightly below $63.00 stock rallied to new high today – exit target $70.00

Current Position PFE

Be patient and maintain short position till $27.00

New 4X4 Set Up

Long entry $25.20 on buy stop. If filled place protective stop loss at $24.50

Semiconductor Sector Analysis Reason for considering Long Trade INTC Right Now Semiconductor sector is top 25% right now Semiconductor Sector Stronger Than Stock Market

Traders looking at long side of market have to look for short term opportunities only in range bound market conditions

New Inside Day Set Up

Things To Keep In Mind Markets have been very difficult during last few weeks Many traders got whipsawed last few weeks We stayed out of trouble Believe market will be range bound Will have better idea as reports are released

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