Egypt Riot

The massive one day US market selling-off on Friday will definitely give bears a strike back, after its eight weeks advancing.

For Singapore market, it will be selling off too today. The first support level I'm looking at is 3180, and then the critical level 3120.

See you soon.

Intermarket

Today's market is gloomy and listless, this is what I can say. Not everyday is a trading day, for short term trading, I'd rather suggest you stay out or get out. The market can go either direction in coming week.

Below is my view on different markets, bias is neutral to bearish in short term.

Straits Times Index: STI currently trading under its short term downtrend line, in between 3200 to 3230(20ma), it has to breakout its downtrend line to move up further, otherwise it may retrace further.

Hang Seng Index: HSI today continue slip, close to its support 23500, I expected it would find its support in between 23500 to 23250( the downward trend line, ellipse in below chart)

Shang Hai Index: SSE is the most bearish chart among all. Currently facing multiple resistance on top of head), it has to clear the area at 2750~2800 resistance to move up.

Long Candidate

Many Blue chips had a stunning rebounce yesterday, STI ended up 39pts to 3220.

Here's some nice charts for bulls:

OUE Rebounding

OUE reboundign from its major uptrend line support

Market In Sleeping Mode

Good day everyone, a day like this really need one's lots of patience. It's zig-zag quiet, and bearish sentiment.

STI short term support at 3180,

My STI momentum indicator is approaching 60 support level now, everytime it will rebound when it below 60.

Kepland Hit Support for a Bounce

On 13 Jan, Kepland had a nice breakout, and the next day government announced to lift levy on properties sales. It was selling off immediately after the announcement. What does it tell me?
- Don't ever show hand
- Manager your risk, only trade within your capability
- Get out immediately if your are wrong.
- No one method is perfect, be it Technical or fundamental

2010 Result Date

STI rebounded in the morning and was dragged down by the bearish sentiment of Hong Kong and Shanghai market. so far it's still holding at its Friday support level 3180( the Ellipse as drawn in the chart below), I'm stay sideline except two swing trades F&n and HKland.

Short Term short: 3180

There will be results coming out coming from now on to Feb. Dates list below:

Click below chart to enlarge

StraitsAsia

SAR looks promising to move up.

Market Turns to Bearish in the Afternoon

STI support at 3183~3190 area, (See previous post for chart) which is the gap between Dec 28 and 29 last year. Commodities and Properties are the two most weakest sectors.

I'm monitoring closely YZJ, SGX, Indoragri, SAR and OUE, HKland as they are at their key support level now.

will update you again.

Broad Market

On SPX uptrend is still nicely intact, it rebounded last night after hitting its 20ma support. Current resistance level is 1300.

STI now dropped 20 points to 3184, the gap support level for STI is: 3183 ~ 3190, expected STI could turn around at this level.

STI in Short Term View

Good morning everyone.
I've been doing quite well so far in 2011. and I hope you got good profit too. I've been keeping posting and updating you in this blog for quite sometime already, this is 3rd year. And all these information are free for you. I do these for few simple reasons:

- It's my passion and interest to trade. I really love it.
- I believe in technical analysis.
- The financial market are abundance, no one can earn all the money.
- I feel good in my heart when someone out there read it and say thank you.

I want to make this website better and more helpful, wondering is there anyone out there good at website design ( I've very limited knowledge on this) and want to join me to write and publish or any other good ideas or suggestion. Please drop me a line.

Okay let's take a look at STI in short term now, market has been generally bullish since the begining of the year. It's in a narrow trading range for the past six days or so. It can go either way at this point, a breakup of the triangle would push it further up to recent high 3280, whereas a break down would bring it back to 3220 key support, where it conflunce with confluence with its 20ma. The generall uptrend is still intact.

Few Notable Charts for Bulls

Sembmar

Indoagri

Kepland

The Breakouts

market is rather quiet but there are few stock there moving actively always. F&N and SATs breaking out now.

Broad Market

Good morning everyone.

Today US market holiday. The US market indices including DJI, SPX, and Nasdaq are still very bullish in overall.

Local bench market STI has been zig-zag in a narrow range for the past four trading days. The major uptrend is still intact, and short consolidation or even a pull back to 3220 and 3205( as depicted in below chart) is possible. It would provide us more long opportunity if this happened.

Comment Cleaner

I received this comment from an Anonymous with regards my previous post, and I decided to post it out below:

I want to add few more words here : It's purely for entertainment purpose.Thank you anonymous.

How to Use Your Mobile Phone to Make Popcorn

This is probably what it does to our brain - like putting your head in a microwave, eh? And we're supposed to believe that cell phones are safe? Check this out.

Properties Tumbled

Fourth round of cooling measures. In yet another surprise move last evening, the government announced another round of property cooling measures –the 4th in two years.

- With effect from 14 Jan 2011, the holding period for Seller’s Stamp Duty (SSD) would be increased from three to four years.
- The SSD rates would be raised to 16%, 12%, 8% and 4% for residential properties sold in the first, second, third and fourth year of purchase respectively.
- The Loan-To-Value (LTV) limit will be lowered to 50% for housing loans to purchasers who are not individuals and 60% to individuals with one or more housing loans.
Near term weakness in share prices for property and banking stocks as well as in the physical property market. Besides the knee-jerk reaction expected this morning for property and extending to banking stocks (as mortgages remain a key component of most banks’ loans books), we also expect the physical property market to see near term price weakness (as was already the case after August’s cooling measures)

My kepland stucked as the knee jerk reaction of the above piece of news. In overall, i don't think it will drop like hell. market will take this opportunity for profit taking. STI immediate support level still at 3220 level.

Kepland Breakout

Kepland breaking out its triangle pattern now, more upside is expected.

Yangzijiang

YZJ breaking out now, it turns to my biggest winner so far.

StraitsAsia

SAR is approaching its upper trend channel line. I won't chase it since I missed it.

Long Ideas

SIA is taking off.

Lottery Play

Qingmei

Long Candidates

Market is rebounding now, I will just list down my long candidates for your consideration:

UMS
HKland
Indoagri
SGX
Sembmar
YZJ
GoldenAgri
First Resource

Long candidate

HKland @support

Sembmar

Broad Market

Good morning!
The STI is undergoing a health retracement now, the support levels I'm looking at is prior resistance area 3220 to 3188( 20ma). My hands are light and ready for loading when rebounce comes. In these few days.

Will keep you updated.

Lottery Play

Viking appears to be one of my lottery play candidates, it had a breakout of Symmetric Triangle pattern today, with super high volume. My long time readers should know what I mean by "Lottery Play", they are typically: cheap(<50c), high risk, and very volatile.

Market Soften as Short Term Profit Taking

STI has been up for two weeks and it losing a bit steam now, some profit takings are expected in the short term... I don't much to say at this moment, I'm monitoring those blue chips retracing to their support level then get in again. I already closed out 90% of my longs yesterday with good profit.

Will update you again.

UMS

The hotspot has been passed on to cheap stocks today. Personally I'm not a fan of stocks below 50c, occasinally I will buy small amount to satisfy my gambling heart. My trading period are typically short term.

UMS today just breakout, some good news for it.

Wilmar

Wilmar, this falling angel disappointed many, was greatly influenced by China government policy and recently was dumped again, due to its venture into China property market. Anyway I still have a faith in it, it's forming a bullish divergence between its price and RSI, the downside is limited.

SIA Engg

SIA Engg is fighting back, it will likely end its two months correction and heads up now:

China Minzhong

One of the biggest vegetable producer in China, China minzhong retraced to test its support level 1.39.

Long Candidates

With many run up yesterday, it appears to me these counters look much promising to move higher.

Cosco

Genting HK

OCBC

StraitsAsia

Sunvic

Midas

Optimism Abounds

STI's "perfect" head and shoulder pattern( posted previously) was confirmed a fakeout, STI first day gained 1.4% or 45.73 points. Great start.

STI Breaking High

Straits Times has finally breakout its 3220 key resistance and moving up now. Bulls are obviously in control.
I see plenty of room to the upside

Welcome, 2011