Tuesday, October 25, 2011

Quick Update on NQ

although our forecast is right about NQ - reached 2385 high last night, we expect the bullish sentiment to continue.

Although I am agressive and aim to enter at 2308, market didn't retrace but straight up to 2385.

Today I forecast the market to continue to surge higher to hit 2400 - 2430.

Aggressive trade:
Enter Long with initial shadow at 2354 which is also 50% of Fibo Retracement from yesterday's high-low.

DJIA

Bold uptrend.

Daily chart we have seen some very bullish EMA crossings.
There's no sign of reversal yet, stochastic normal.
Daily candle normal.

Strong support at 11480.
(Dow keep making Loooong shadows on weekly chart, beware of any long position)
If the positive news keep pumping in the market, it might go all the way to 12300.

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