Sunday, January 6, 2013

DJIA and Nasdaq 100

I hv been sitting here whole evening, not knowing the time has passed. Time seems to have stopped.

Something has happened.
My mind is somehow disturbed with this new change. And I can't get rid of them.

I hope I can live in harmony with them, the thoughts, the feelings.


There are no spending cuts, only tax increases.
Tax bracket increased from 250k to 450k.
The short term solution to the fiscal cliff has bring market to new highs.

Honestly I am not able to sync with the market with the rumors over fiscal cliff and Fed's unlimited money supply.  I would like to say I am jealous.

When I have borrowed enough for next 5 years, I borrow my quota for next 10 years, to pay off what I have borrowed 5 years ago... unlimited money supply and unlimited friendships.  According to news sooner or later (1-2 months) US may face debt ceiling call.

Technical Chart
Weekly Forecast

Market had a bullish week DJIA shoot up, gap up, up and up.

Consolidation is taking place and I reckon market to swing bias up.

Stochastic is high, not high enough.
initial shadow is diminishing and on Monday, I expect market to trade to 13400, then higher towards 13480-500 before stochastic hitting oversold.

Towards Tuesday/ Wednesday:
down to close the gap 13150-13250 pts and resume limited range capped below 13600.  Close the week with another white candle below 13550.

Nasdaq 100

downside support 2670, 2690.
Resistance 2780.

Stay out.

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