20 Points Profit

There are two charts below - a 15 minute and a 20 minute.  The market rose from the open and stalled somewhat at the 14980 level.  At point A (in the 15 minute chart) we see an upthrust, and to confirm this, in the 20 minute chart, at Point A we see no demand.  The market fell steadily on this lack of demand and I took my 20 points profit.

I may not be trading for a little while due to the market being closed for a couple of days, and some work commitments before I go away on 15th July, but will keep looking when I can.

Also I am starting to look at Stocks to trade on a daily basis.  My first analysis was correct - Citigroup.  I didn't trade it though as I'm experimenting at the moment. See chart below.  Citigroup appears to be looking as strong as the Index, and at Point A we see a test, immediately after a sign of weakness.  I would have put my stop below the last reaction low and my limit at 100 points.  You will notice that after the test we have what looks like a shakeout, which is a bullish sign in itself.  I will continue to watch this to see how it unfolds.