I may think that markets will remain bullish till the end of the next week. Does this idea go a bit too far to a trader? Anyway, I will try to swiftly adjust my Game Setting according to the market signs. I think a pullback is a chance to buy at least for today.
11:05 AMBulls may take a break next Monday.
Review My Game Setting For Th 12/1/2011
Bulls: Buy on pullbacks. Target 126.80 - 128.30. => May sound good even you expose them overnight. Bought 124.60 sold 125.20 made +0.60.
Bears: In waiting mode.
May be safe to close profited long positions. Markets may go slightly red tomorrow. => Definitively a bad call.
Integrated Score from 11/23/2011: 1.20 + 0.60 = 1.80
1. EURUSD hourly looks bullish with a pennant formation. A beak out would target 1.3570. That development supports bullish stock markets.
2. SPY Daily shows numerous of indicators in bullish crossover and that says there remains room for the upside.
3. My Game Setting for Fr 12/02/2011
I expect some kind of continuous rally based on hopes before the Dec 8 ECB, Dec 9 Euro summit and Dec 13 FOMC. For my short term trading purpose my first care are the support 123.00 and the resistance zone 126.70-128.40.
Bulls: in action with first targets 126.70-128.40.
Bears: may have enough time to enjoy the short term hibernation.