DJIA and Nasdaq 100

I have just attended sifu DAR's 2-Days Professional Trade Master program and happy to meet many dedicated traders and I personally re-learn many things from Sifu - Sifu's proven, powerful and universal trading concept!

For those who has followed our forum and practised Fibo range, congratulations as I believed you have at least made 200 points from the DJIA market last week :)

The Fed's statement on Thursday 2.15am ( GMT+8 ) at the end of its two-day policy meeting is widely anticipated for details of the central bank's economic stimulus plan.

Dow Jones Industrial Average (DJIA)

Closing: 11,118
Strong Resistance: 11,257
Current Resistance: 11,247
Current Support: 10,920
Strong Support: 10,750

We foresee that this market is going to consolidate in the beginning of the week, however, the selling pressure is there and the wait is almost over as DJIA is currently trading near its strong resistance level.

I favour to plant my shorts at 11,210 region with SL at 11,300 region for the waterfall.
Agressive long traders can opt for intraday trade and long at 11,021 region with SL at 10,950 region.

What if, 2nd scenario, if US Fed Reserve extend the quantitative easing measures (QE2), or announces great fundamental news, market would break this strong resistance 11,257 and closed above, it may go higher towards August-2008 top 11,867.

In our opinion (DJIA team), you should just short at price near 11,210 region and place your stop at 11,250 or even 11,300 to avoid the swing, the nearer you short around this top, the lesser risk you will take but reward will be good. I am looking at target 10,750 and this is the BKO level that we have covered in Professional Trade Master Program last weekend.

Nasdaq 100

Closing: 2,124
Strong Resistance: 2,147
Current Resistance: 2,130
Current Support: 2,106
Support: 2,055

Same as previous week, Nasdaq 100 may have potential towards Dec-2007 high 2,147.

Nasdaq 100 Trading plan (Intraday)
Long 2,100 SL 2,090 TG 2,140.

Short when market is trading near its strong resistance 2,147 region, place your stop 10 points away.