For a trader, winning is extremly dangerous if you haven't learned how to monitor and control yourself.

The Secret Recipe: Trading Success = Winning Trading System - U


Tuesday, March 16, 2010

Market Update

Overnight US market numbers:

Dow: 10642 +18
Nasdaq: 2362 -5
SPX: 1150.51 +0.52

US major indices Dow and Nasdaq remain at their resistance level with Nasdaq tiny down. The market's bullishness turn to weaker now, the rule of thumb is you don't want to buy at resistance. We buy at support and sell at resistance. so be careful your long positions.

2010Mar-S&P 500-800x600

As for STI, it hit resistance area too. The over-head resistance 2935~2895 definietly doesn't look to break soon. and we have pretty much room for it to retrace downside, major support is at 2820.

2010Mar-Straits Times-800x600

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