DJIA
Last week, Apple announced iPhone 5, and the share price closing up above $700 per share.
Poor chinese manufacturing data sync with slowdown in US and UK.
We are moving closer to the quarter end and we expect traders’ to wrap up their trades while moving into a rocky / choppy 4th quarter.
With elections coming up, and a few economic data such as: consumer confidence,
pending home sales, fed balance sheet & money supply (read: CNBC link) we expect market to trade sideways in the coming week.
Stay out.
Resistance: 13660
Current support: 13500
Support: 13370
Nasdaq 100
Nasadq 100 continue moving north with a slower momentum and showing support at 2845 pts.
Expect market to trade sideways bias up.
Support: 2845 pts
Resistance: 2880 pts
Like the channel in the chart below (NASDAQ 100 4H).
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