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.
Cheers
Ayumi
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.
Cheers
Ayumi
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