Friday, August 30, 2013

Hibernation, and back

I have been silent for the past two weeks, missing my weekly routine.
I guess I keep finding excuses and avoided many commitments.
End of the August Month, we are in the middle of Q3-2013.

Weeks passed, EUR/USD is channeling up, testing resistance 1.3400 - 450.
EUR suffered steep correction in past two days and currently trading at 1.3230 region.
Current Support 1.3200.
falling below 1.3200 will trigger selling pressure below 1.3000.

GBP/USD rallied in the August month, toppish at 1.5720 region and trading around 1.5500.
1.5500 is also 1/3 Fibonacci Retracement level, next support should be 1.5400.
I forecast GBP/USD to prone bearish trading towards 1.5400.
Intraday resistance at 1.5530.

Nothing major to expect on USD/JPY, expect further consolidation between 97.00 - 99.00.
Enter short at key resistance 98.30-98.50 with star candlestick pattern is desirable.

I missed all the excitement - due to lose of focus.
I thought DJIA would have climb to 16000 level before significant fall could happen.
Correction has extended for 3 weeks since early of August 2013.
What I expect now is for DJIA to continue trading down to 14600-550 pts and form strong reversal signal for me to enter Long.
p/s: I am reading another book from John C. Maxwell
[Talent is Never Enough]
would like to share a snapshot


Tuesday, August 13, 2013

DJIA and Nasdaq 100

for the week starting 12-Aug-2013

Since the start of August 2013, DJIA has been trading in narrow range.
Last week we finally see some range changes and on weekly chart, there is a bearish candlestick pattern.

Market has been reacting to news, economic data releases, and we are paying a lot of attention for Sep-Taper month.

Taper, or not taper?

With better than forecast economy data, Sep-taper is coming.
However, Federal Reserves convinced us that tapering doesn't mean tightening.

Let's see, i really expect some bearish sentiments...

At the other side, we take a quick look at USDX, it has fallen to 81.30, close to previous low 80.60, which I believe a technical support should happen around this level to lift USDX back to neutral level around 82.20 - 82.90.

Till then DJIA shall begin its correction back to 15,180 pts.

This week I forecast market to trade sideways bias down to test 15,260 pts, then to recover to 15,450 pts.

Looking forward to a wave formation.


Monday, August 5, 2013

DJIA and Nasdaq 100

for the week starting 5-Aug-2013

This is going to be the last 3 days of work before the Raya holiday.
Thursday and Friday is public holiday here in Malaysia and I get to continue clearing off my stuff :)


Last week DJIA posted modest gains, despite a disappointing job report.
The week is quiet and DJIA shall continue trading sideways bias up, supported above 15550 pts.
Day range around 80 pts.

Still looking at DJIA going towards 16000.  But it seems slow.

Nasdaq 100

Nasdaq 100 in contrary, posted stronger gains than DJIA.
Looking forward to Nasdaq 100 hitting 3160 pts this week.

Due to the lackluster trading .. I do not plan to trade this week.