DJIA and Nasdaq 100

Quick Update on DJIA and Nasdaq 100

Possible end of the rally this week, however, if Resistance 10,580 has been broken and DJIA closed above 10,600 --> Next level is to test 10,720.

I maintain the short view at 10,580.

IF, DJIA has break above 10,720, then we suspect there'll be a new formation of B from a big time frame, DJIA might retrace to 10,930 region before continuation of the down fall.

Nasdaq 100

Momentum seems strong in Nasdaq 100, it has formed a reversal candle yesterday, High 1,938, I personally feel that Nasdaq is still early to fall now, it might continue its rally until next week, and to test the resistance at 1,980 - 1985.

I am looking forward to Thursday & Friday news release, and FOMC statement next Wednesday 22 Sep 2010.