And I received message asking whether DJIA fall is coming? The fall which we have been waited for ages.
Dow Jones Industrial Average (DJIA)
DJIA retreat after touching 12020, in the picture of the DJIA bull run, there are some reasons which indicate a reversal - day chart showing bearish engulfing pattern + week chart doji.
DJIA support 11745, which is a support for current up trend, is just less than 80 pts away...
May be I am deeply in love with the uptrend, I see that there is a potential of DJIA make another dip to 11785 on Monday, pull up to 11910, and if the reversal is true, then we might see DJIA first settle at 11745 vulnerable support, which can be broken anytime soon!
If you are still not convinced of the reversal even though we see day chart reversal and weekly doji... you are like me, simply want to see Dow make it to 12033-050, whether Dow will make it or not -unknown- :) if our short at 11910 has been triggered (suggest SL 11945), there's a possibility that... Dow make it to 12050! :) Or may be, Dow is going to the moon at 12300 after this handsome correction of -167 pts. If you wished to Long, only initiate Long near minor support 11785, SL 11740 TG 11910.
Nasdaq 100
Bearish. Nasdaq 100 touched the ceiling 2336 and closed at 2270 for the week. Check there's a butterfly pattern on 1 hour chart (butterfly pattern is covered in Professional Trade Master program), signals a possible turn up. Short at 2300 resistance, SL 2310 before continuation of the fall to 2236, then 2200.
Alternatively, stay out to watch the development of reversal on Monday to decide which side you want to trade.
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