Wednesday, September 15, 2010

DJIA and Nasdaq 100

Quick Update on DJIA and Nasdaq 100


Possible end of the rally this week, however, if Resistance 10,580 has been broken and DJIA closed above 10,600 --> Next level is to test 10,720.

I maintain the short view at 10,580.

IF, DJIA has break above 10,720, then we suspect there'll be a new formation of B from a big time frame, DJIA might retrace to 10,930 region before continuation of the down fall.

Nasdaq 100


Momentum seems strong in Nasdaq 100, it has formed a reversal candle yesterday, High 1,938, I personally feel that Nasdaq is still early to fall now, it might continue its rally until next week, and to test the resistance at 1,980 - 1985.

I am looking forward to Thursday & Friday news release, and FOMC statement next Wednesday 22 Sep 2010.

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