Monday, March 25, 2013


Stopped out!

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Long Dow near 14550.
SL 50 pts
TE 150 pts

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DJIA and Nasdaq 100

For the week starting 25-Mar-2013

Hi everyone, sorry for the late update.  My schedule is pretty tight this week; I just had a full day discussion and presentation, followed by 3 days conference in KL.

The week started off with Asian Stocks Rally, followed by European shares open higher.  Cyprus, International lenders reached draft bailout deal, and the government shall impose capital controls on banks.

As per what soulfire has commented on my post last week, yeah, indeed, Cyprus bombshell!

This Tuesday, I am looking forward to Fed Chairman Bernanke speaks (Tuesday 1am, GMT+8 = SG/MY Time)


With US30 (FXCM) opens and break above double top, market is going another wave up towards 14,800 pts.

EMA50 (4 Hour Chart) does its best to show support near 14,460pts now.
Market is currently trading near 14,570 pts.

Intraday (1 Hour Chart)
Market has traded near its session high and I reckon market to trade sideways bias down until US market begins in 3 hours.  Hope that it could retrace to find support near 14,530 pts. for me to initiate long, Target exit 14,700 pts. / EOD.

Nasdaq 100

Similar to Dow, Nasdaq 100 has break above last week’s high and it is going towards 2,830 pts.
Currently trading at 2813, Support 2805 pts., target 2830 pts. / EOD.


Monday, March 18, 2013

DJIA and Nasdaq 100

for the week starting 18-Mar-2013

Today, is the last day of service for my crazy colleague, whom I regard him to be a friend.
They said, if you have a crazy friend, you have everything.
I am glad I know such person existed.

Little brother, farewell!


DJIA fell 0.2% last Friday, ending the longest winning streak since 1996.
U.S. dollar weakened. The yield on the 10-year U.S. Treasury note dipped to 2%.

The euro zone struck a deal on Saturday to hand Cyprus a bailout worth 10 billion euros ($13 billion) – Cyprus is the 5th country receiving financial help during Euro-Zone debt crisis, after Greece, Ireland, Portugal, and Spain.


Weekly Candle: The weekly candlestick pattern suggests early weaknesses in DJIA, we suspect market to trade lower in the coming week to 1/3 fibonacci retracement level around 14300 - 14350 pts.

This week in US we have some housing data on Tuesday night (SG/MY Time), and most importantly, Fed announcement on Thursday 2am, and Thursday night on manufacturing data and employment data.

For the beginning of the week, we reckon market to trade sideway bias down towards support near EMA50 (4H) or 1/3 Fibonacci Retracement Level aroudn 14300 - 14350 pts.

Then to accumulate strength and turn up upon positive data releases to form new high, breaking 14,550 pts towards 14,700 pts in the coming week.

Or turn down upon negative news releases to test support 14,150 pts.

Nasdaq 100

Similar to Dow.
Early of week, bearish.
2760 pts
2750 pts

Two Scenario:
Upon bad data, will dip to 2712 pts

Upon Fed new financial aid, reverse up, recover to
then retest previous high 2835.

Next to target 2855 (in coming weeks).

Tuesday, March 12, 2013

DJIA on Tue 12-Mar-2013

Hiring Picked up in February, the U.S. economy added 236,000 jobs in February; unemployement rate down to lowest level (7.7%) since December 2008.  The increase in jobs and decrease in the unemployment rate were better than expected.

Within this 30 minutes of NFP report, market swing and it was thrilling seeing the actions.

Tuesday 12-Mar-2013

Sorry for being late posting my forecast.  Market has reached higher and currently trading at 14,444 pts; market is trending higher and stochastic is high but no signal of turning down.

Next Target for DJIA: 14,550 pts, 14,700 pts.

Current Support 14,300 pts

Strong Support 14,200 pts

Today’s setup: Initial shadow long, enter Long at 14,420 pts, SL 13,390 pts, TG 14,550 pts / close EOD.

Thursday, March 7, 2013

DJIA on Thu 7-Mar-2013

I entered short once, market swing, I am out.

Waited for 2 hours, market is quiet.  Trading sideways and returned to 14300 again.
Since it is close to the closing bell, I don't think I want to enter short at this moment.

Reckon market to retrace from current high 14300 pts to 1/3 retracement area 14200 pts.

For trend trading I would wait for long entry near 14200 pts, for short term trading (intraday) I will short near 14300 and target exit current support 14200 pts.


Monday, March 4, 2013

DJIA and Nasdaq 100

for the week starting 4-Mar-2013

Me and mentor, we had a little chat.

I long US30 (DJIA) last Friday after formation of the EMA50 in 4H chart.
Mentor says : Oh no~~~~!!!! You are anti-recession.
Hahaha target to close at 14150 pts.  Currently floating 66 pts. profit.


From Economic Data front, US shows positive consumer sentiments, ISM Manufacturing PMI is better than expected.

The current chart pattern formed a higher high and a lower low, it looks like a trumpet, and it is hard to trade nowadays if you didn’t protect your trade with Stop Loss.

I am anti-recession.
Market shall go up, higher and higher.

It has reached 3L target last week at 14,120 pts. (the level I been waiting for months!)

A new PowerWave has formed with last week’s candlestick pattern, it can either be a new down wave, or an inner wave and the extension of the up wave – beware!

This week, we forecast market to challenge all time high (2007) 14,270 pts.

This week:
Resistance: 14270 - 290 pts.
Resistance: 14150 pts.
1st Support: 14000 - 050 pts.
Strong Support: 13850 pts., breaking below this level would trigger to bearish sentiment

Long with initial shadow, near 14000 – 14050 region, SL 50 pts. from entry, TG 14150, TG2: 14250 – 14290 pts.

Once market has breakup above 14,300 pts., market might reach 14,650 – 14,700 pts. within this month of March 2013.

Nasdaq 100

Hope for another bullish candle to resume up trend.

Target: 2785 pts.
Resistance: 2760 pts.
Current Support: 2735 pts.
Strong Support: 2710 pts.

Sequester news going on.....
watch for opportunities