DJIA and Nasdaq 100

I have been reading on the US trade deficit, budget deficit, inflation numbers, production cost, cost of living, etc...
while QE2 is coming to an end, the mixed figures is just troubling my mind that how far can DJIA go?

Raising the Debt Limit, or Default?
Failing to raise the $14.29 trillion debt ceiling would force US to default - that would inflict catastropic damage to the American economy.

FOMC meeeting minutes on Thursday 19-May 2am (GMT+8 - MY/SG Time) is an important annoucement to watch.

DJIA on Mon 16-May-2011

I am not a pessimist, but I do not foresee DJIA to break above 13000,
or to re-test 13136 level (pre-crisis high in 2008) anytime soon in this week.
Previous high of 12880 region is now a tough level to work on!

This week, I forecast DJIA trading sideway,
with the range limited to 12700 - 12520 prior to FOMC meeeting minutes on Wednesday night.
Aggressive Long with initial shadow near 12550,
SL below 12520 and aim for 12650 quick exit on Monday.

Stay out if the market didn't come to our entry.

Nasdaq 100 on Monday 16-May-2011

Similar to Dow, sideway, range contracting in range 2408 - 2370, advise to stay out from Nasdaq 100.

p/s: Linked-In to list on 16-May!
DJIA FlashQuotes
Nasdaq 100 FlashQuotes