Tuesday, February 12, 2013

DJIA and Nasdaq 100

for week starting 11-Feb-2013
It was a nice call to short yesterday, I reckon market to continue trading below 14000 pts.
Intraday trading:
From smaller time frame - 30 mins, market is trading at support level 13950 pts, breaking below would bring it down to 13850 pts.



From higher time frame - 4 hour, market is trading above EMA50 support, breathless, as I can see the market is consolidating and awaiting breakout either to top or bottom.
Breaking up - target 14120 pts.
Breaking below - target 13850-875 pts, 13630-650 pts.



Nasdaq 100
Nasdaq 100 chart is weird to me...
I do not know how to trade this market and neither I am able to interpret them.
Lets try,
Nasdaq 100 is bullish, with bearish candlestick pattern.



trading above support, EMA4 and EMA20 shows bullish sentiment.
take a look from 4 hour chart:
Market has break above resistance with a long bodied bullish candle.
but was then suppressed below 2780 pts.



therefore, from mid-higher time frame (day to week) market is slight bullish.
from small-mid time frame (hours to day) market is slight bearish.
Take a look EMA50 is also the support level 2755 pts.
I would prefer to initiate long near 2755 pts if the support holds.
Cheers
Gong Xi Fa Cai~~ I got many ang pows~~!!!





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