Bulls Winning the Battle

STI closed at 3079 today, at two weeks high and also had break-up above its resistance 3076 level. The wind is blowing north now. If STI can stand steady above 3076, it could continue climb up to 3100 level in short term.

Venture

Venture approaching its major uptrend channel now, the support is at 8.4, looks a nice long candidate.

From 4th Jul: Reduction In Minimum Bid Size

SGX going to deduct minimum bid size from 4th Jul( next Monday) onwards, in a move to increase trading volume in the market. Take note of the new bid size:

STI Immediate Resistance 3076 Gap

Good morning everyone, I was rather quiet yesterday. STI gapped down and eventually closed the gap by closing yesterday. The momentum is slightly bullish. STI immediate resistance is still unchanged at 3076 gap.

I see many individual stocks poised for a rebounce.

Long candidates under my radar for today:

YZJ
SAR
Genting sp

STI Closed Green

STI this week up 61 points to closed at 3066, (gap resistance 3067~3076). It formed a big green bullish candle on its weekly chart, after two weeks bloody red candles.

Will see how Dow closed tonight for STI next week direction, it may test 3110 to upside, or else 3045 as short term support to downside.

Into No Man's Land

STI continue zig-zag in the range, the up/down is well kept within 10points. STI may found its short term support at 3000 (last week close). It may climb up to test its immediate resistance at 3076( gap down).

I got in SAR today at average price about 2.91( check my previous post for SAR chart) already, will keep my position small and be nimble.

A Quiet Day Ahead of FOMC Announcement

STI should be quiet today ahead of FOMC meeting annoucement tonight.

Currently STI is resisted at 3060 gap resistance at 3059, slightly up by 6points. A close above this level would give it more bullish momentum. Otherwise downside is still prominent.

Talk to you again.

StraitsAsia

StraitsAsia is one of the few nice uptrend survivors. Good entry if it retraced to bottom channel line. with target at 3.35.

STI Turns to Buy Mode

STI R2-3037, R1-3021, PP- 3010, S1-2994, S2-2983

STI turns to buy mode now. currently up 27 pts at 3040.

Contertrend Trading candidate: CMA
CMA formed a doji bullish reversal yesterday at its 161.8% Fibonacci level, it's also its long term down channel bottom line support. now 1.42,+2c,

A Silent Day

Hello everyone, I have little to say today. STI was struggling to closed at green--a inverted hammer, after eight bloody red candlesticks. It has been trapped in between 3120 to 3000 well. Waiting for a clear direction from other market. The FOMC meeting is on this Wed.

STI In Selling Mode

Few points to jot down for today.

- STI is in accelerated selling mode, many stocks broke their downtrend channel bottom line.
- STI closed at 3020, down 34 points. 3020 is the historical resistance turn support level. Also its historical uptrend line support level.
- STI is expected to find its short term support at 3020~ 3000 level.

STI Momentum Indicator( proprietary indicator) falling below 60 level now, STI rebounded every time when it fell below this level previously, will history repeat itself this time round?

Genting Sp is at its major support 1.85 level. More downside if it closed below this level, or otherwise it may get a rebounce from here.

I'm out of town tomorrow. So there will be no update for Friday until I'm back on Sunday. See you again. Wish all of you good trading.

STI on Rest Mode

STI opened gap-up higher and retraced back to its "zone" 3055 ~ 3065, which inside yesterday's trading range.

Still remember the say " Amateurs trade market open and professionals trade market close"? It's what last Friday and today's market have done. On both days, the market opened gap up higher as the US market closed higher at previous night. Most of us "think" it will go up too. As soon as it opened higher, professionals took the advantage to crack down on it... So what are the important points to look for? The support and resistance and trend. When STI broke 3100, the market sentiment is bearish, the trend is down also. And also do have a plan, the ESP( Entry, stop, profit target), always ask "WHAT IF" before enter the trade. Trade wisely...

STI short term resistance and support: 3100, 3055

Counter-trend Trade: FnN

STI has been supported at 3055 so far. I have a counter trend trade here: FnN, 5.72 now. It rebounding from its 61.8% fibonacci level with bullish reversal candlestick.

Risk: High
Target: 5.93 then 6.09
Investment period: short term, ~1week

STI Immediate Support 3055

Hi everyone, the market is so quiet and my update will be late and few, the market direction is towards downside. STI immediate support for TOMORROW is 3055, which is its weekly pivot. Let's see how it goes.

If you are trend trading, do not try to pick bottom now.

Whole Picture Changed Today

STI closed at 3078 today, few important points must be noted:
- It takes over two months low
- It breaks 3100 important support

I see plenty of room to downside. Bulls should be ready to get out of the market.

First Resources Breakout

STI has been fluctuated around 3100 for the past two days. Bulls are fighting hard at this level.

1st resources breaking out resistance 1.45 now, Target 1.57.

A Quick Wrap Up

STI managed to close a tic above its major support 3100, closed at 3102 today. It has been rebounded three times so far--market is willing to hold 3100. Will it still hold this time? be frankly I don't know. No one will know. What I will do is to react quickly in favor of the winner whenever bulls or bears are dominant.

If US market were to rebound tonight, it will provide bulls with more confidence. 

By now, I'm still holding my GLP long which I enter couple days ago( click HERE), It has worked out very well so far, see if 2.10 resistance can break or not. Congratulation to those who participated.

Long Candidates

First Resources: at 1.45 resistance now, entry if breakout

STI May Turn Around at 3100

STI hitting its support 3100 now, it may rebound from here, long candidate:

Manhatton Res rebounding from its support level now

Rainy Days and Sundays

STI has been zig-zagging for the past 5 weeks within the range of 3180-3078. It's definitely a nightmare for traders. I can't do much with this kind of market. I'd rather stay in the sidelines to monitor it & give me a clearer direction before I go in.


The market is slowly drifting downwards to 3110 rather than up. It's not sunny, not flooding like Orchard road, It's just rainy days. On the positive side-- it's a good time to test your patience.

STI Not As that Weak As I Thought

STI yesterday opened gap down and managed to rebounded to close the gap by the end of the day. Support and resistance remain the same for today: 3110 and 3180 respectively.

STI Hit Resistance 3180 and Bears Take Over

Good morning everyone.

My quick notes here, since STI unable to break 3180 major resistance yesterday and US market is so weak last night, the odds are in bears camp now. Support level is 3110, which I'm watching closely.

I'm out of office for these three days, so posts will be slow and less. Talk to you again.