Topic over the last weekend was mostly on Apple Inc legal victory over Samsung Electronics Co Ltd in San Jose, California.
And main concern now is whether Federal Reserves will continue to inject stimulus in the market – a speech by Ben Bernanke this Friday at the Fed’s annual gathering in Jackson Hole, Wyoming could offer some clues.
The market could be bumpy this week ahead of Friday’s meeting.
Read: Reuters :: US Week Ahead
DJIA forecast for the week starting 27 Aug 2012
Read my previous week forecast here:
http://ayumi216.blogspot.com/2012/08/djia-and-nasdaq-100_20.html
Market failed to reach 13,350 pts but came pretty close to it, then suffer most of the fall towards the end of the week except pullback of 100 pts on last Friday.
Market has fallen to the strong support 13150 pts now, bullish momentum has slowed down and I reckon market to swing up and down between 13300 – 13050 pts these few days.
Trades could be established when market is testing resistance 13300 or support 13050, but I don’t like to enter to any trades if it was trading in between - like current level 13175 pts.
I prefer to stay out.
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