Listening to some quiet songs (piano) while the city is covered under thick cloud. It is drizzling out there.
I prefer this weather, drizzling, not too much sun. To me, it’s the type of weather I want to sit close to my heart. Blogging, reading, listening to music, and dancing, were all of them. Just, no TV.
Last Friday, NFP result was too good, market become lively again!
Relating to NFP and some job report:
http://www.bloomberg.com/news/2012-12-07/payrolls-in-u-s-rose-146-000-in-november-jobless-rate-at-7-7-.html
http://www.businessinsider.com/nomuras-reaction-to-jobs-report-2012-12
Technical Analysis
DJIA
Friday closing: 13,155.13 pts (+81.09 pts, 0.62%)
Weekly Chart: DJIA posted another bullish candle on weekly chart, and therefore this coming week, outlook is bullish, market should continue towards next resistance 13,260 pts – 13,300 pts.
Daily Chart: Strong Support 12,930 pts
Intraday Chart (4H) market bounced off EMA50 on 4-Dec-2012 and we reckon the upward momentum to continue to 13,190 region before it comes down to test intraday support 13000 pts.
Prefer to enter long on Monday using initial shadow, buy near 13,080 pts, SL 40 pts away, Target Exit 13,200 pts or EOD.
Nasdaq 100
Friday closing: 2,978.04 pts (-11.23 pts, -0.38%)
The rest of the world is bullish, and Nasdaq 100 came down!
Apple, the stock of the largest US company fell 2.6 percent to $533.25, extending its losses for the week to 8.9 percent dragged Nasdaq 100 amid the positive job report.
Weekly Chart: neutral, market trading below strong support 2640 pts by 2 pts.
Daily Chart: bearish, if market could not break above 2650 pts but traded below 2640 pts, there is a high possibility market continue to go down. Otherwise, breaking above 2650 market shall retest swing high 2674 pts, an ideal level for a new short.
Intrady Chart:
This Monday, I reckon market to trade sideways bias up, to 2650 pts. Intraday resistance 2653 pts.
In fact, market has just create a new XAB downwave.
I am soooo into shorting, selling Nasdaq 100.
Throughout the week, my main objective is hunting for EMA50 rejection (4H chart), short with initial exit at 2630 pts, TG 1 2595 – 2600 pts.
Wish everyone another profitable trading week ahead.
Cheers
Ayumi
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