Monday, March 25, 2013

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.


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