Tuesday, June 18, 2013

DJIA and Nasdaq 100

For the week starting 17 June 2013

It's Tuesday today and I just got back to my desk to start work. Many emails and updates.

It's choppy on the DJIA chart last week.

See day chart.

Weekly chart captured on Tuesday 3:15pm (GMT+8)

I shall post my forecast tonight.

- Posted using BlogPress from my iPhone

When I view my blog I get to see a lot of squares and rectangular without chart, and the font size went haywire.

DJIA and Nasdaq 100

for the week starting 17 June 2013

Looking at weekly chart, we have two reversal candlestick pattern for mid May and end May 2013.

followed by two long shadow candle for 1st and 2nd week of June.

Coming into 3rd week of June, now what?

Market has corrected for 700 pts and recovered more than 400 pts as of now at 12am, GMT+8 / 12pm, ET.

I have two contrary view this week, market shall continue choppy sessions, to break above 15,300 pts, then test resistance 15,400 pts.

Major Support 14850 pts.

hence for this week I will trade with Fibo Range.

For Tuesday:

Short 15301 pts - 15320 pts

SL 15350 pts - 15375 pts

TG 15150 pts.

Long 15090 - 15100 pts

SL 15030 pts

TG 15300 pts.

Nasdaq 100

From Weekly chart, Nasdaq 100 outlook is relatively bearish as I compare to DJIA.

Resistance at recent high 3005 pts.

Support 2,965 pts.

Fibo Range

Short 2995 - 3000 pts.

SL 3001 pts

TG 2960 pts

Long 2950 pts

SL 2930 pts

TG 2980 pts.

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