Playing Piano & Surfing: Market looks toppy

• Even though the bottoms are still rising slightly, As Gannfann (Patrick Hughes) said, Unless we break the S&P @ 951 with confidence and momentum we will go sideways into a tighter range and continue the Bear.


• An indicator for me could be June 4 and Prudential weakening. Prudential (PRU)
  


• TheVIX is bouncing creating higher bottoms.


• Percentages say it is better to wait for volume and momentum short (top) as weakening and buy (bottom) when strengthening within the wedge and cut out if weakening occurs. Cut in as strength comes in.


• (Closer to the top or bottom, the greater the risk reward or loss)


• Find the support and resistance channel and watch for breaks of 5 or more points.


• Look for the channel within the channel in different time frames.


• Watch the 5 day and 8ema rising and failing VWAP as the channeling or wedge consolidates.


• Watch the Moving average in different time frame.


• 200 100 and 50dma crossing (lower numbers over higher means up and the opposite for down), leveling and move up together in the 30 and 15min charts this can give good indications up trend within the same or next day.


• Watch to see if it closed below 50dma by 5 or more points.


• Look for weakness Falling bottoms and tops, or strength(rising bottoms and tops).


• Watch the bouncing ball. Gravity and momentum. Higher the bounce the more opposite reaction. Watch the reaction like a chemist playing a piano.


• Watch for patterns in behavior, such as: AKNS


• I said on June9th, May 5th Vs June 9th, large green volume increase = we will go higher than 1.62 and at end of day I said, $AKNS yes but didn't it pop higher tomorrow morning?
  
  I did blog days before that, looking forward LDK 13.60 is not unreasonable.
  Although I sold early, I didn't feel 100% confident (probably a lack of sleep and computeritus, nothing that can't be fixed.)
  
  Even though I sold because a gap up isn't always in the cards and I do not like to gamble. I also listen to the advice of those that have more experience than me.
  
  It does no good to look back after a decision is made. Onward and upward.
  
  Gannfann said, If you are being cautious it means you are getting better at TA. If you are not certain about the direction you should be on the sidelines. You don't have to make every trade.


• Price and time can say it all; the rumor and the news are secondary in longer time frames.


• Rumors usually effect till news comes out, thus the cliche buy the rumor, sell the news.


• To me the Market is like playing the Piano and Surfing using wind turbines and solar panels.