for the week starting 20 Jan 2014
DJIA has traded far beyond 2L on a weekly chart.
Inner wave has hit 4L with little exhaustion.
Inner wave 5L target 17350 pts, which is close to 3L target on the major upwave since 2012.
I am holding a bull view until end of Quarter 1, 2014 - as long as taper is going slow.
This week Support and Resistance Levels:
R2: 16570 pts
R1: 16530 pts
Current Support: 16430 pts
S1: 16370 pts
S2: 16315 pts
Nasdaq 100
Bullish on Nasdaq 100
Similar to Dow, 5L inner wave target sits on 3710 pts.
Another 120 pts away until end of Q1Y2014.
Nasdaq 100 is always volatile but I am keeping a bullish view, will only take action when I am actively watching the market.
R2: 3630 pts
R1: 3615 pts
Current Support: 3575 pts
S1: 3560 pts
S2: 3535 pts
DJIA has traded far beyond 2L on a weekly chart.
Inner wave has hit 4L with little exhaustion.
Inner wave 5L target 17350 pts, which is close to 3L target on the major upwave since 2012.
I am holding a bull view until end of Quarter 1, 2014 - as long as taper is going slow.
This week Support and Resistance Levels:
R2: 16570 pts
R1: 16530 pts
Current Support: 16430 pts
S1: 16370 pts
S2: 16315 pts
Nasdaq 100
Bullish on Nasdaq 100
Similar to Dow, 5L inner wave target sits on 3710 pts.
Another 120 pts away until end of Q1Y2014.
Nasdaq 100 is always volatile but I am keeping a bullish view, will only take action when I am actively watching the market.
R2: 3630 pts
R1: 3615 pts
Current Support: 3575 pts
S1: 3560 pts
S2: 3535 pts
Hi Ayumi,
ReplyDeleteNasdaq 100 already drop more than 200points, do you change your view now or still keep bullish?
I am new here. Just wish to make friend and exchange views with you.
Regards,
Yong
Dear Yong
ReplyDeleteThanks for visiting.
It is very sad to see market fall so drastically but I am holding a bullish view for these 2 months.
I am not able to short but if you did, congratulations!
Nasdaq 100 and DJIA also has dropped drastically for the past 2 weeks.
Like I said on this post, DJIA has hit 2L on a weekly chart, and 4L inner wave with little exhaustion, this correction is still acceptable.
Unless the drop continue next week, Nasdaq 100 break below 3420, Dow break below 15250 pts, I would change from bullish to neutral.
If Nasdaq 100 sustain above 3425 pts, Dow sustain above 15260 pts, I would look for a Long trade opportunity.
What is your view?
Hi Ayumi,
ReplyDeleteThanks for your explanation. I did not trade oversea Futures. I just trade FKLI and FCPO.
I got no idea how the market will go now. Long or short also got risk. But i prefer bearish in Asia Market.
Sorry, my English not good, next time can i write chinese?
Hi Yong,
ReplyDeletesure u can write in chinese, i read and write mandarin.