Reporting season Week 2: Earnings report from Citigroup, IBM, Intel, Goldman Sachs, Apple, Yahoo and Verizon.
DJIA
Friday Closing at 12353.83. DJIA has gained +56.53 pts (0.46%) on Friday.
Weekly Chart: Market toppish, Strong Resistance at 12450. Breaking above this major resistance will lead to 13000.
Intraday Chart: no clear reversal signal.
Monday is likely a crucial day for DJIA to test resistance 12380 - 12450.
No recommendation for intraday trade; for position trade, hunt for short opportunity
when the index is trading at 12400, SL 50 pts away.
Minior support 12280, target to reach support 12180.
Nasdaq 100
Nasdaq 100 resistance 2320-2324, if Nasdaq 100 is well kept below 2320-24 resistance, we expect the drop to continue, suggest to hunt for short at 2320 region, SL 2325, 1st Target 2290, Ultimate target 2270.
Related: DJIA, YM and Nasdaq 100 on 15-Apr-2011 (with Chart)
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