Dow has formed a small bodied candle on weekly chart as well as day chart capped below 10,600 region.
Breaking above 10,600 will lead the market to next resistance 10,700,
we foresee that the market is not likely to break 10,600 unless some
strong fundamental news send another spike to it.
for those who are sharp, you will notice on day chart that Dow Jones Industrial Average is
actually forming a divergence awaiting breakout to the downside!
To play safe, traders should observe reversal between 10,500 - 10,600 for shorting opportunity, first target at 10,350.
Be cautious and at the same time don't miss the train to south once the market decline towards the weekend.
Nasdaq 100
Similar to Dow, Nasdaq 100 has formed small bodied candle on weekly chart. Notice the divergence on Day chart and pincers on 4Hour chart.
Prefer to observe good reversal at 1875-1900 area with our first target at 1,830.
Related: APSRI Forum
Related Topic:
APSRI Forum : DJIA and Nasdaq 100 Index Trading
Related Post:
APSRI Forum : DJIA and Nasdaq 100 Update for Mon 2 Aug 2010
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