I have missed opportunity to short on Monday by planting my short at 10,310, while the highest this market has retrace is 10,304. With Dow formed a new low 9,939, we are moving closer and closer to the fall~ :)
For those who missed our call to short from 10,700, followed by 10,450, and 10,300... don't despair, we can always spot opportunities in market.
DJIA
Last Friday, DJIA has the biggest gain in 1 day since 9th August 2010, and closed at 10,150.
Strong Resistance: 10,450
Resistance: 10,300
Support: 10,050
Current Support: 9939 (Low on both 25/8 and 27/8)
We reckon this market to retrace up to 10,250 region on Monday and Tuesday. It is a good opportunity to plant your shorts before CB Consumer Confidence announcement at 10pm on Wednesday (GMT+8).
Intraday Traders can short at 10,200-269 region with Target Exit at support 10,050, and 9,950.
We can smell the beginning of the fall by now, understand your risk appetite and at the same time protect yourself with controlled risk, don't miss the opportunity to catch Short at 10,200 - 10,269, with SL at 10,340 region; Our Target Exit at 9,800 and 9,600.
NDX 100
Strong Resistance: 1,860
Resistance: 1,820
Support: 1,760
Current Support: 1,720
To pick short around 1,800 SL slightly above 1,820. Target Exit 1,760.
Should the market break above 1,820, next level to short is 1,860.
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