DJIA and Nasdaq 100

for the week starting 27 May 2013

DJIA Weekly Chart

its amazing to see how the fibo numbers working out... I plotted these since early of the year.

DJIA has hit 15550 levels and formed a reversal candlestick pattern on weekly chart.
Current support 15250 pts.

DJIA Daily Chart

Daily chart heavy swing.
Support 15150 pts.


DJIA 4H Chart

If market break below 15150 pts, it will turn resistance to go south towards 15000.
Strong Support 15000 pts.

This week's view: slight bearish.

Might consider using Fibo Range for this week.

Trade Setup: Fibo Range
Sell : 15,440 pts
SL: 15,480 pts
TG: 15,330 pts, 15,250 pts

Buy: 15,270 pts
SL: 15,230 pts
TG: 15,380 pts, 15,440 pts.

Nasdaq 100

Similar to Dow.  Market formed an early reversal candlestick pattern.
But it is less bearish compare to Dow.

I reckon market to continue surging higher towards 3,070 pts before turning down.
Resistance 3,050 pts
Support 2,960 pts

Current support : 2,997 pts which is also the daily initial shadow entry level.

Fibo Range
Buy: 2,980 pts, SL 2970 pts, TG 3,010 pts, 3,020 pts.
Sell: 3,020 pts, SL 3,030 pts, TG 2,990 pts, 2,980 pts.