My decision to trade this market was born out of the simple fact that 1. START was in the limelight and has been receiving considerable attention... 2. There was market momentum .. 3. No sell resistance.. 4. The market was moving sideways
could you explain more about this what does it mean when a market is moving sideways?
and what are todays picks?
Moving sideways is when the lows and highs are the same throughout the period.
If you need more info go to investopedia.
This exactly...
A market that is moving sideways isn't in an up or down trend and will exhibit a lot of staggered price action between a tight range. You can also call this consolidation, or the "accumulation phase".. it all refers to the same thing and ends either when prices break-out or plunge downwards.
If I see this sideward movement, in addition to conditions where market momentum is building and there is low/no sell resistance, then it's more likely that the market will break-out rather than fall into decline.