Updates on Thu 15 Nov 2012

Like Christmas is Coming~ :)
I am going to get the song "Spring" choreographed!
These songs were from Karim Nagi latest album "Arabized", very cool crossovers.

FOMC
Minutes
Bloomberg Video

DJIA

Market shed 90 pts after FOMC meeting minutes

My long trade on Nasdaq100 has triggered SL immediately at the following hour.

Market break below previous low without much upward retracement, not even 1/3;
Forecast market to continue extension to 3L at 12,400 pts

Check DJIA daily chart:
Strong support at 12450 pts, so if we get an opportunity to short, I may exit around 12400 - 450 pts.

Nasdaq 100

Last trading at 2530, not much room to reach target, target 2523, previous support 2522.

Gold

Weekly Chart
With the bullish candlestick pattern last week, I reckon market to head up, although I am not that convinced as Gold didn't reach 50% retracement level to $1661.

Daily Chart
Gold has posted a handsome reversal when it touches EMA200, as u know I am not convinced, but if market were to continue bullish sentiments, i take 1:1 target price near $1784.

Intraday Chart
Same support were seen in 4H chart, there are a few inner wave plotted.

Gold last traded at $1725, reckon market to trade within this symmetrical triangle, breaking up or down.
breaking down to $1705, breaking up to complete 1:1 and reach $1784.