Trading on the Edge

Market trend:

Market Watch: Opening price and closing price near each other signify indecision in the market. And with such long tails it gets all the more choppy. A see-saw battle between the bulls and the bears, where no one wins. It is tempting to visualize a bounce off to higher highs from here. As you can see, the moving averages are just crisscrossing each other, meaning that we are in choppy zone. If the price moves higher from here, we will be into bullish bias and I can open some positions. It can get very frustrating to try and trade these markets if you are a trend trader. It also gets frustrating to sit on your hands and watch nothing of consequence really happen. But sitting on the sideline has the advantage of NOT losing money. From today on, I will also be adding some links of note that I would like to share with you. Hopefully you will find them as useful as I did.
How I trade: Corey has put up a nice post detailing his general methodology. I was pleasantly surprised to see that we have a lot in common in the way we approach markets and he gave me some ideas about looking into sector rotations, which is one topic that I am currently researching into.
SPX: No progress from last trading session, except a confirmation that 1410 seems to be holding which would be good news for a bullish turn from here
COMPQ: Same situation as S&P 500 and 2400 level seems to be holding. Will we get a bounce from here?