Weekly Forecast

A week has passed, a new month has started.

I went for a haircut yesterday, very happy with a new hair colour, and new hairstyle, and a 4-step in-depth treatment, as a result Ayumi's hair is (just a bit) healthier now. :)

I told my hairstylist that you can colour any brave color, that I am not reporting to work, and I can be as crazy as possible~~ See?

There's a hidden message in this conversation...
I am only responsible to myself, not to others.

I used to think that... may be I would need to get a job soon...
However, I need to trust myself, I need to trust trading, I need to trust mentor JC, need to trust APSRI family, trading can work, (whether it can work on me or not?) I just need to make it happen, for me.

I wish to tell all who has been working hard, who has been committed, that we can make it happen.

Maximize your strength; minimize your weaknesses.
Be total honest to self, be responsible to our own actions.

--------------------

DJIA

*NYSE and US Banks will be closed in observance of Labor Day on Monday 6-Sep-10.

I wish to share my view on DJIA:

DJIA has been bullish last week since Wednesday.
It has formed a strong reversal pattern at 9,950 region on 31/8/2010 (Tuesday) and rallied to 10,450 resistance level on Friday.

After a packed calendar in the prior week, there is relatively little on the economic data schedule for the September 6 week, and little of that will have much impact for markets.
Therefore, I suspect DJIA to be trading in small range this week 10,200-10,500.

For those who are sharp, you may see a divergence in 30 minutes chart, my view on this market is that DJIA may come to low of 10,300 region (EMA50 on 30 Minutes chart) early of this week.
Traders who planted shorts at 10,450 last Friday, 10,250-300 may be a good region to take profit, we reckon this market to continue its corrective upwave for another 2-3 days.

However, if DJIA break above 10,500, it will continue its upwave to 10,600 and 10,700 region.

Short Term trader can observe for reversal and Long at 10,250, SL 10,200, TG 10,450.

Stay tuned for more trading insights!