Sunday, June 30, 2013

DJIA and Nasdaq 100

for the week starting 1-July-2013

When I commit to start looking at my losing trade..
I realizes.. I commit to making the same mistake.

I went to the church this morning, visiting the church my colleague AG used to go.
The topic were not much on trading.. what surprises to me is that, during the worship I uncontrollably cried, and the tears fall like a leaking tab.

A good friend of mine, LW, he said:
"That's the hand of God, touches you. For redemption, confession".
He is just another personality that never stop surprising me.
Never underestimate someone else's pain, I am glad he has passed many tests, and challenges, and still being him, crazy fella.

Perhaps after time my wound would heal.  Perhaps after time I would embrace my limitation, and live limitless.

Last week on DJIA, check this out:
DJIA 4 Hour Chart.

well so market went a bit higher than 2nd resistance 15000..
highest 15071 pts.

Monday market may go sideways between 14850 - 15000 pts.
If market continue to suffer below 15,071 pts, I am strong bear.
I would just love to plant shorts, and more shorts.

Aim to plant short at 15000 pts (or higher), SL slightly above high 15080.
Target exit 14850, or 14820 pts.

This is also the level where market shall find support before the next move.

Weekly Chart
From higher time frame, market still forms lower high, lower low and the power wave formation is intact.
next target to hit 14250 - 14300 pts, rebound, if the sentiment is low market might reach down to 13,900 pts in 2-3 weeks (by mid July 2013).

Nasdaq 100

I think I have double standards when it comes to Nasdaq 100 compare to DJIA.

Nasdaq 100 shall trade sideways early of week between 2880 - 2940 pts.
and there might be a potential for Nasdaq 100 to break above 2940 pts, if this happens, we expect a strong resistance at 3000 pts.

Well, I hope market capped below 2940 pts, and start the slide towards 2850 pts.
If the slide really happens, next target for this downwave is 2760 tps.

I will abandon my short view if market break above 2940 and close near 3000 pts.
This just shouldn't happen...


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