DJI

Just a quick view on the DJI, two days of break for Dji and its followers..but what has so far been happening might be worth taking a look. The market might go sleeping again tml. Haha..no one knows what Miss sandy can do to Mr Dji.Maybe sandy had made Mr Dji so "tired" that he don't want to work already LOL  :P

Okay, from my analysis of the 4 hourly chart, I have observed a corrective mode of a 5 - 3 -5 wave.Of which as you can see from the chart, both the 5 and 3 were completed. The next 5 wave down is in progress, to me the dji some how stopped at 13000 level which is a strong support + physco support. More over the 1.618 extension of the prior up leg( of 13275 - 13589) is somewhere at 13080. This leg up if fufilled will be a wave 4 and i am expecting it turn at 13296 or 13226 as these are the common retracement level for wave 4. A upmove will be likely as both indicators are pointing towards divergence, which increase the prob of a upward movement soon.Alternatively dji may also head further downwards to 12767 which is its 2.618 extension since 1.618 is already taken out. But if wave 4 ends at 13296 as mentioned before, then target of this downside will be 12900 (if w5=w1) and 12815 (if w5=1.618w4). Also , if wave 4 ends at 13226 target of wave 5 will be 12748 (if w5=1.618w4). Do take note of these levels :)  Right now i will watch and see to go short if chances arise.