NASDAQ COMPOSITE VIEW

From the above chart of NASDAQ COMPOSITE i am clearly able to see a sharp fall and sharp rise as well. Volatility is very high. The fall which started in mid March was very swift and so was the rise. It has a perfect 'V' shaped chart. Whenever 4275 breaks which is the short term trendline downfall could be very swift. Look to short near 4350 and keep SL of  4500.My Ultimate target for Nasdaq is 1900, but levels to watch on the downside which could act as short term supports are 4155,4059.This rally which started from mid May from the 200dma  is due to local and small retail investors buying thinking they are buying technology and biotech shares at a reasonable discount. I feel honeymoon period is over. The downfall when develops will be so swift that no one would understand whats happening. Reasons will develop later but chart pattern to me is suggesting something else.

VIEW ON DAX

From the above chart of DAX we can clearly see that, it was trading in a triangular pattern and sometime during mid may it broke out of it and started trending higher. Target for the traingle pattern come close to 10200 on the upside, but i feel short term, medium term and long term top is in place. On 13 June which was the last trading day a DRAGONFLY DOJI was formed on the short term trendline which indicates buyers kicked in some buy orders before closing. MACD is in a sell mode RSI has broken 60 which was earlier acting as a good support. I am keeping my negative stance on DAX on break below 9900 with a sl of 10350.Targets for downfall would be 9675(50 dma), 9500,9270(200 dma). My analysis also gives me a target of 5000 on DAX. So don't be shocked if it even halves its value.