Monday, June 24, 2013

DJIA and Nasdaq 100

for week starting 24-June-2013

I started to develop this habit of writing my forecast on a weekly basis.
And every beginning of a week, I would look back at my previous week forecast.
for week starting 17-June-2013, posted on 18-June-2013

and this is what happened:

Timing and Price is always the main clue we need to find from the chart, it is always the key to our forecast.

I am happy when my forecast for direction is right, but I am still searching the ideas to make it work for me.
I did some silly mistake last week, and a very good blogger friend shared some nice comment and made my day.
Thank you soulfire. his blog here [Xanga]

We are at the final week of June 2013.

Monthly Chart:
monthly candle is looking ugly already...
there would be some shadow below, before the close of this month's candle.

So I forecast the last trading week, DJIA break below previous month low (14690 pts), preferably test 14570 pts;
and close around 14750 pts.

Weekly Chart:
I reckon market to trade in a narrow range this week, bias down to test support 14570 pts, lowest to go 14460 pts.

Then rebound up to resistance 14850 pts before closing at 14750 pts again.
Strong resistance at 15000 pts, if market really reaches 15000 pts, I want to initiate short coupled with EMA50 strategy in 4H chart.

I would say there's nothing much this week, until a strong short signal prevails.

Nasdaq 100


This week, Nasdaq 100 may continue to start the week falling towards 2850 pts.
There is a potential to rebound near 2850 pts, to bring Nasdaq 100 back up to 2900 pts, or strong resistance 2930 pts.

The bearish sentiment should stick unto Nasdaq 100 until end of July 2013.

I forecast Nasdaq 100 to fall towards 2757 pts, then 2680 pts, it should not break below 2580 pts to resume uptrend.


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