The launch of iPhone 4 here in Malaysia is crazy.... People queue for number, waited for hours to collect their phone... it sounds like a BIG, whole day event, reminds me how my friend queue to sign her paper of marriage :p
Does it shows that the Asian spending power has increased? Perhaps rumors on short supply of iPhone 4 in China, and the demand in our region may push Apple stock price higher and lift the DJIA a bit? jking...
Next week, Consumer Confidence Index 10pm (GMT +8 ) on Tuesday, Fed Chairman Bernanke Speak on Friday 2.30am (GMT +8 ), we have manufacturing data release, ISM Manufacturing data release at 10pm Friday (GMT+8 ).
Technically, the DJIA rally has not ended yet, for those who followed our forum, we are looking at 10,930 region for shorting opportunities, with Friday sharp rise in DJIA (closing at 10,860), the index may go to test 10,930, if DJIA has break above 10,930 convincingly, I suspect the index might trade higher towards 11,050!
Without much data release on Monday, I suspect the index will be trading in small range (consolidating) bias up.
Aggressive Long traders can consider to enter Long at 50% of Friday candle / EMA50 on 30 Mins - at 10,750 region, SL 10,715. TG 10,865 (Friday High). If you have bigger appetite: Long 10,750, SL 10,700, TG 10,930.
After a huge run in September, the odds of taking a breather here are increasing.
For Short Traders, be patient, we can consider to enter Short IF we see a reversal pattern formed at 10,930, do not rush into market as we are approaching end of the month... perhaps there would be some.. they call it 'window dressing'? I suspect the 1st sign of weakness will be near.... lets watch out for 1st week of October...
Sorry to disappoint you, but I still think that Nasdaq 100 can rally for another week, again
Resistance: 2,060 (Year high 2059.42)
Nasdaq 100 trend is bullish, for Aggressive Long Traders, spot for EMA50 support on 30 Mins - at 1,998 region for Long, SL 1,975, TG 2,060.
After sooo many reminders from Sifu DAR Wong, I wish to share my first, my 2nd, my 3rd... rule when I enter to ANY trade --> always protect yourself with Stop Loss, you can always enter to the market, Mr. Market / Mrs. Market will be always there, and they welcome our $$$ ^_^.
Happy harvesting~ Cheers
If you want updates on DJIA and Nasdaq 100 Index:
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