Market Opinion - Trading Week #4

Market Opinion for the Trading Week 4 Feb to 8 Feb 2013

Have fun trading : interesting, amusing or entertaining accounts on trading !~

SPY - 5 Days Candles

Recap on last week

It's not exactly like a 'V' shape as expected an ugly shaped 'V' formed later part of the week. Seem like the support ard 150 is holding.

Accuracy : 3/3 100% (still 100%, wahhahaha let's see if i can hit 100% for 5 consecutive weeks)

SPY - Weekly Candles

Psychology
Check out the weekly candle stick pattern. What's your feeling of the candle ?

The bears are starting to give a little stretch. And it's probably little trickle to the bull to make them work harder =) or setting up the stage for the greedy bulls to jump in. Apparently, bulls are really determine type, they just don't like to be push. Sense the good commitment from the bulls. They probably won't feel a pinch with just a little tickle from the bear.

It's probably a tick shape for this week. I m a shy bull for next week.
It just stuck me suddenly, what's the behaviour pattern of a bull > from wikipedia > http://en.wikipedia.org/wiki/Bull

Bulls are much more muscular than cows, with thicker bones, larger feet, a very muscular neck, and a large, bony head with protective ridges over the eyes. These features assist bulls in fighting for domination over a herd, giving the winner superior access to cows for reproduction.^[4] 

Hmm bulls are stubborn animal. It probably take quite an extend effort for the bull to move itself to charge towards something. But once it start, it's not easy to stop it. Are we seeing something about the bull on the market now.

So how to stop a charging bull ? http://www.wikihow.com/Avoid/Escape-a-Bull
By creating fear(need a big Bear to do that =) ) or side step and run towards the opposite direction.

Technical
Break high again. And hitting channel resistance.

What's ahead for next week ?
Economic events
Only 3 major economic data release this week. That's good.

It's the Chinese new year week. Everyone is doing their last minutes shopping and not forgetting the reunion dinner and yu sheng. And the never ending queues at Bak Kwa stores.

It's probably good pattern to trade Chinese restaurant chain stock during this period. And maybe the pork belly future

http://en.wikipedia.org/wiki/Pork_belly


Opinion of the Market next week : sideway with little up side.