Friday, April 15, 2011

DJIA, YM and Nasdaq 100 on 15-Apr-2011


Continue the chart that we posted yesterday, and so happy that YM has marched to the 12100 territory last night, lowest 12108 and rebounded.

YM is currently trading at 12241, expect the rebound to bring YM to 12270 or 12287 previous resistance level.
If YM is well capped below this resistance, ohhh la la, expect the drop to continue and bring YM to 12100 1st target, breaking below, and go towards 11928.

True, my short position is secured with a stop loss at entry level now, and I am going to add 1 more short position today if YM well resisted at the above level.  take a look, this is really a good level to short, as it is an important EMA50 in 4 Hour chart.

I may be right, I may be wrong, secure the trade with SL at 12300.


Same but the level slightly different.

Resistance 12320 - 12338, if DJIA is well capped below this resistance, we expect the drop to continue to bring it down to 1st support 12160, breaking below this support 12160, DJIA will find the next support at 12000 region.

Nasdaq 100

Similarly, resistance 2320-2324, failure to break above this resistance, expect the dip to continue, SL 2325, TG 2290, TG2 2270.

Earnings, earnings, earnings....
CNBC Earnings Central:

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