Sunday, January 16, 2011

DJIA and Nasdaq 100

DJIA on Monday 17-Jan-2011

My senior Wink Market Raider has posted call to Long last friday on DJIA, Long at 11709, SL 11679 (Friday Low 11698, means traders are safe!), TG 11790.

I always admire master Walter's view in the market and I believe trading in this market is a bit tricky now for some new traders, just visit our forum regularly for more market insights!

Many would have regard that DJIA oversold, divergence, double divergence, and must come down, yes, it must, however, we believe that it will not come down today, not tomorrow, and we still believe that DJIA bull may last until end of this month, and slowly, slowly rally towards the 12050 region, and ultimate target 12250.

In line with our previous week forecast, congratulations to those who followed my long at 11600-570, which level have you bought DJIA? :) the lowest DJIA has go is 11573 on Monday, and it never revisit any price below 11600 in the remaining trading days ~ move your SL, and enjoy the ride yeeeeha!

DJIA Support: 11680. Strong Support 11635.
As long as DJIA didn't trade below the strong support 11635 in the following week, I regard DJIA uptrend intact. Aggressive traders may initiate long when u observe DJIA retrace to this support 11680 with reversal pattern. SL may be placed at 11615-600, aim for 11800 as first target, and 12000.
Those who added a new position on Friday and taken profit of 90 points, congratulations.
I maintain my long view target 11816, 12033, 12250.

Nasdaq 100 on Monday 17-Jan-2011

Didn't get the long entry as my previous week's forecast, but the uptrend is soooooo beautiful, hit target and higher and higher...

Those who followed Sarah's call to Long must be very happy sitting in profit position now Good job Sarah!
She is a fast learner and has been very timely with her update and good forecast. Sifu said Sarah is a good thinker. Agree!

Intraday support 2310, Support 2: 2300, Strong Support: 2294.
Resistance: 2320, 2400, 2470.

Intraday pick long at 2310, SL 2305, TG 2320-2350.
For the week, pick long 2300 SL 2294, TG 2380-400.

I hope you like what I share, I hope all are happy for the profit you make from the market, enjoy the ride and hope all can make Big angpow for Chinese New Year.

I strongly encourage all traders from KL to attend Henry & Aaron's ProMaster workshop this coming weekend i.e. 22nd & 23rd January 2011, this is a must go event, Trader ProMaster concludes Sifu DAR Wong's proven trading method and successful traders' trading concept, and most importantly, the module is delivered in the most simple manner!! As I am the product of ProMaster, I can learn, you can learn too. Contact JC to register. Details click here.

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