DJIA and Nasdaq 100

DJIA and NASDAQ 100 Update for Mon 12 Mar 2012

DJIA
Early of last week market plunged heavily for 200 pts., tested below 12750 pts. support level and rebounded to stay above 12900 until the closing for the week.

Next we expect DJIA to trade sideways between 12830-13030.
Personally I am favoring to the top, I favor to trade long when market comes back to 12830, if market break below 12830, abandon long and we expect the plunge to go down to 12630.

NASDAQ 100
Nasdaq 100 is trading at previous top 2649; it managed to break above previous top 2649 and reached 2652 on Friday.

Nasdaq 100 is prone to more bullish sentiments - next target 2690.
Current support 2640, strong support 2613.63.

Aggressive trader can aim to long at current support, SL 10 pts., and target exit 2670-2690.