DJIA and Nasdaq 100

Ops! I am late!

It is afternoon here at 4pm (GMT+8).

FTSE 100 opened lower, Friday close 6,347.24 pts, last done 6,329.47 pts.
but it has done quite nice for the year to date at +7.32%.

Last Friday we have positive NFP, improved US consumer sentiment, better than forecast Eurozone economic data and sustained growth in China - easing worry of demand in the world's 2nd largest economy, US market has flirted above 14,000 pts (I am excited!)

US did not fall off fiscal cliff, and the debt ceiling issue were now pushed to May-2013.

This week, the financial earnings comes to full force and we reckon market to continue sky rocket higher in line with many positive reports as a result of continuous stimulus from Federal Reserves.

Trade with caution as the strength of the bull is now at its fullest, market couldn't go up all the way,
therefore, we reckon a healthy pull back to be in place - so be prepared, the bull might be exhausted when we are trading towards March 2013.

DJIA / US30 / YM

Market - bullish
Short term support: 13,950 (1/3 retracement of Friday's H-Lo)

As per our forecast since last month, after hitting 14,000, next target is 14,120 pts.
Grab it!

Related:
Forecast 28-Jan-2013
Forecast 21-Jan-2013

Nasdaq 100

Market - slight bullish
Short term support 2750 pts (1/3 retracement of Friday's H-Lo)

Market revisit resistance near 2775 pts, and we reckon market to continue trading sideways bias up to hit 2775 pts, then 2785 pts and ultimately 2800 pts.

Cheers
Ayumi