DJI 091212 Updates

DJI

Right now DJI is at the tipping point i would say. First look at its daily chart.

The DJI future is reaching some headwind at either the 13160-90 where there is a 100d MA (aka 20 week MA, if you roll out your weekly chart). In addition, if say these levels are cleared, one can look to short the market at 13270-90 which can be a major resistance to clear. Either you do a quick short or riskier you can hold it longer. Since momentarily, there should be some pull back there. The 4 hrs chart below should show clearer picture for you all. ;)

Obviously the 61.8% retracement is retracement of the prior 5 wave down. And there is a fibo retracement of also 61.8% (not shown in the diagram) of prior wave A at 13200. Watch these points ;)