The Broad Market

While we are having our holiday, the US major three indices DJI, SPX and Nasdaq are TURNING from downtrend to uptrend last night.

Asian major markets such as HSI, SSE and STI has yet do so. Will it catch up? We will see.

As for today, the two resistance levels for STI in coming days:
S1: 2816(gap)
S2: 2875(fibo level)

Genting Resistance: 1.605-1.625(gap)

I will be continue focus on blue chips for a quick rebounce.

STI Outlook

Good morning everyone. I had rather few posts for the past few days. STI had been sideways for the past six trading days, kind of frustrating days if you are in the market.

Here's my general view for STI: STI in downtrend, the rebounce is rather weaker as compare to US market( or no rebounce yet, in sideways trading), current support is at 2700-2720 range, further downside IF it break below this level. To upside, the gap resistance is capped at 2816 level.

I will look for blue chips for a quick rebounce in coming days.

Stocks I'm looking at: kepcorp, HKland

Market is Consolidating at Bottom

Market is continuing wandering at bottom, it appears to me it's consolidating now before rebound, rather frustration...I see US market is forming kind of double bottom(not yet confirm). I'm caustiously bullish at this stage.

The fear factor VIX suged above 40 and come down a bit to below 40 last night.

Will update you again.

Market is Wandering at Bottom

The Choice of ETF

Golde ETF( symbol: GLD 10US$) is in accelerate rising mode now. I'd rather wait for it come back into its uptrend channel for a long position instead of rush into buy it now.

STI ETF is another  long candidate.

Market Set For Rebounce

STI tested its major support 2700, all the indocators telling me the market is going to have a rebounce soon.

I will focus on a rebounce instead of short position.

Friday Wrap Up

STI dropped 116.96 points or 4.1%, its 3rd week consecutive bloody drop. It has dropped 455points or 15% for the past three weeks.

STI closed at 2733 today, which is its weekly pivot S1. 2700 is its past major support, recent low is at 2720. I guess market "should" get a rebounce at around 2700-2720( subjective analysis). Refer to STI weekly chart below.

And here's STI momentum update for this week:
Mon: 49
Tue: 49
Wed: 47
Thu: 50
Fri: 47
Recent low on 11 Aug is 43. Still "under water", below 50 benchmark but slight better. Do aware of "double bottom" formation if it got rebounce from 2700-2720.

Please do not rush into the market for long position. Market is still weak, trade with trend, trade with trend always...

Have a nice weekend.

Selling Off Resumed

Good morning.

It was a big sell-off last night in US market, with Dow dived down 420 points to below the important psychological level 11,000, it closed at 10990.

STI may test its recent low 2720. I have few shorting candidate under my radar( using CFD)

SIA Engg: it rebounded to test its 50% fib
SAR
Goldenagri
Olam
OCBC
Ho Bee

What does 15 Trillion looks like?

The Rebounce is Weak

STI is relatively quiet in morning session, waiting for clear direction. The overall picture is still down, and in the short time frame, STI is rebounding, it was down quite a bit yesterday but I consider it's a normal retracement in the "rebounce phase" as the whole sentiment is still weak, investors are lack of confidence to get in the market, most are stay in sideline.

The two support levels I'm watching for the time being:

S1: 2825
S2: 2800
I will consider the rebounce is over and more towards downside if STI closed below 2800.

A Good Explanation

STI Momentum Update

STI was selling off in the afternoon and ended with 42 points down at 2832.

The levels I'm looking for support are:

S1: 2824
S2: 2800
if it closed below 2800, I guess more downside to come, it may go down to test recent low 2720. Otherwise it may continue its rebounce towards 2900.

STI momentum for Monday and today: 49, 49. it indicates market is still extremely weak, and any time of rebounce is possible.

The Broad Markdet

SPX

Good morning everyone. Sorry for my absence yesterday. The big picture is still bearish, I'd rather prefer my long position is for short term rebounce.
SPX continue its rebounce last night, it may go back test its resistance level 1257.

STI

STI next two resistance I'm watching at are: 2900 and 2955. STI is probably overdone too much as compare to SPX.

Weekend Lounge

Q&A: SGX

SGX is rebounding from its bottom line of its down trend channel, down trend is intact unless it can breakout to upside from this channel.

1st resistance: 6.95
2nd resistance:7.20

Weekend Wrap Up

STI did big swing with more than 220 points from high to low. It's starting rebounding today and managed to close above 2850 important support level, the strong buy in has left a long "tail" in weekly candle, which is a bullish sign.

Further rebounce is expected in the coming week. The immediate resistance is 2936. Blue chips which plunged will be my first choice to catch for a upside move.

Will update you soon again. meanwhile, have a nice weekend ahead.

STI Got a Huge Swing Today

As I said in previous post, the huge volatility in the market will increase the STI's up/down swing. STI plunged more than 100 points in early morning trading than took a fast rebounce up and closed down 24 points at 2796 today. The up/down swing is more than 100 points.

STI next major support levels:
S1: 2800
S2: 2650

Do expect market continue to be choppy in coming days. STI momentum continue to be weak, it hit its historical low at 43, lower than March 9, 2009 when market at its lowest than recovered. Below is the STI momentum since 5th Aug:

05/8: 73
08/8: 55
10/8: 52
11/8: 43
Any number below 60 is consider very weak.

My STI Advance- Decline (A-D) line also indicated market is far below its "normal" trading range. This is where those smart money start to get in the market.

Although market is at its extremely weak and high probability it would had a deeper rebounce to upside, I will NOT "show hand" rush into it, not forget the big picture is still down. Bottom fishing can caught burnt seriously. Follow rules, follow rules...

Market Going to be Choppy

STI did not rebound as what I expected. The shortlived rebounce after opening soon was erased by bears.
It ended with 63 points down at 2821.

My point of view( objective and subjective) at this stage is: the big picture is the market is obviously dominated by bears, but the recent overdone moves really increases the probability of a deeper rebounce to upside, which will make trading decision very tricky, as the volatility increased tremendously, see below chart, it surged from 25 to as high as 48 within past five trading days, a number more than 30 means extremely fear for VIX. It means market is going to be choppy, the upside/downside swing will be very big.

The strategies I will apply:
1) No specific bias, watch out the support and resistance levels, watch the price action to see is there any reversal candlestick patterns at these levels, get in with stop loss pre-determined.  Must determine a "non negotiable cut-loss" point to safe guard capital. Remember: wrong trade doesn't make you a failure, maybe there was no such thing as a failure, unless something positive and useful isn't learned from the experience.

2) Do not react/trade too emotionally with intraday swing as the swing going to big, very volatile. So a tight stop loss maybe easily stopped out. Set your entry level with confidence and wait for it come to you. My momentum chart tells me market is at extreme low level( below is today's STI Momentum chart. It is at oversold extreme (blue line) but not turn up yet.., and I believe it will turns to upside at any point of time from now on)



P.S: As I'm writing now(11.40pm), Dow Jones dropped 435 points at 10800. It's going to be a choppy market again tomorrow...

Will update you again.

STI Ready for a Rebounce

Good morning every one.

This National Day is definitely a good "buffer" for us, what happened was the US dropped 643 points on Monday night then rebounded 430 points--almost back to square. So it's good thing for us to "stand aside" and watching em "play out".

Below are the counters in my radar for a quick rebounce, "quick" I mean for short term profit. Watch out those support turn to resistance levels.

The blue chips, especially the three banks OCBC, UOB, DBS will leading the rebounce, and
Kepcorp
Sembcorp
Sembmar
F&N
SAR
Wilmar

Black Monday

STI nosedived another 110 points to closed at 2884.

My momentum monitor chart tells me STI is at the stage of extremely oversold. The short side is currently the wrong side to be establishing new positions at this moment in time. Market has been in crazy selling -off mode for past week,  it's 330 points evaporated in just five days including today.

In below chart, every time it rebounded in the past when it went below 60 level. It went below 60 again today.

Weekend Wrap-Up: A Week of Red Sea

The worst Plunge since 2008 financial crisis in US market:

STI closed lost nearly 200 points or over 6% down in the week, diving below 3000 points.

Charts for major indices look not nice anymore. The sell off is a "constructive damage" to the whole markets.

Dow broken its major downtrend line, it at least need to climb up to close above 11,900 for bulls to survive, otherwise, plenty of room to downside.

S&P 500 broken its major uptrend line too, currently was supported at 1190, the bulls need to fight to close above at least 1250, otherwise, the bears will be in control from now on.

The latest news is : US no longer AAA, it's cut to AA+ by S&P

STI posted one of the ugliest weekly candle i have ever seen. It wiped off past 18 weeks gain, in just one candle(one week)... closed edge lower below 3000. The next support is its march low 2935 thereabouts. The selling off is overly done I believe, it's tough to "recover" the kind of lost even it's rebound, for this kind of "constructive damage". The US market stop bleeding on Friday but the bearish momentum is still there.

I'm off now. Have a nice weekend! Will update you soon.

Watch The Levels Play

Dow dropped over 500 pts, more than 4% last night. Something we haven't seen since 2008 US bank crisis. Will definitely drag down asian market at the opening.

STI could be open 80 points to 100 points lower, 3025 to 3000 level. The most important is plan the support and resistance level, determine the risk reward to catch some fish...be it up or down.

STI Gave up ALL Its Past Nine Days Gain in Three Days

STI closed at 3107, dropped another 23 points, it has given back ALL its past nine days gains in just three days! What a drastic drop. So where are we at now? I have learnt that "Each moment has the potential to exhibit either enlightenment or delusion." One extreme will lead to another extreme...

STI is approaching 3100(S1) level, which is the level before it started to run up. This market is going to be more volatile( or more exciting depends on how you see and catch it) as it left so many gaps unclosed on the way up and down... The final defence is the uptrend line support 3050(S2). Do watch these two levels, market will turn around very fast as the volatility increases nowadays.

Will update you on again.

STI Drifting towards 3100

STI is trading lower than yesterday's low and drifting towards 3100 support the whole morning session. It's down 22 points at 3108 (2.14pm).

Other regional markets such as HSI, TWI, Nikkei also weak now. Will update you again.

Happy Birthday Singapore

Q&A: Midas

Okay, Q&A session now. As asked about Midas by xq.

Below is the chart for Midas, in longer time view, Midas dropping back to its yr2009 Mar resistance turn support level 53.5-55c thereabout. I don't see any momentum it will go up soon but 53.5c-55c level should be a level it stopping bleeding...

STI Updated

STI dropped 54 pts at 3123 now( 12.03pm), it dropped to as low as 3111.34 in early trading session.

There are two important level to watch out for STI turn around, 3120 and 3100. and 3113 is the 50% fibonacci level. As such a huge drop so far, I think STI downside will be limited to 3100( major resistance turn support level).

I will be watching those "Falling Angel" for rebounce first. Those blue chips as I always mentioned...
(click picture to enlarge)

STI Support 3150(20ma)

STI will probably continue its retracement to test its 3150 support today, the next support is 3120. My bullish view will change if it closed below 3120.

Beside Dow's huge decline, I don't like DAX( Deutscher Index Gemany)'s chart too. Its major support broken and I do expect a "steep" downside target if it can't trade back close above 7050.

Dow Jones Major Support Broken

The 265 points or 2.19% drop last night pull Dow cross below its major uptrend line, a big warning for bulls.

Cosco Worst Case Scenario: 1.3

Cosco has dropped so fericely today--down 12.4% or 21c to 1.485 so far, the lowest of the day.

It broke its multiple support levels and no signs of recover yet. Both projected target by double top formation and Fibonacci projection  is 1.3-- the worst case scenario to me. Well, just expect the unexpeceted always.

The Broad Market

STI has dropped 1% or 32 points at 3182 in half day trading today. The first day it starts to retrace, after the two weeks consecutive run-up. It looks a normal retracement to me so far, I still maintain my bullish bias as long as it stay above 3120 level, which is the downtrend line breakout level.

Below are S/R levels for STI:

S1: 3180
S2: 3150
S3: 3120

R1: 3210
R2: 3230
and my longer time frame target for STI is 3440

No Lunch Time Start from Today

There will be no lunch time for me start from today...as the continueous trading kick off in Singapore market.

So you are welcome to delievery me a lunch box if you wanna thanks me:) LOL

I traded HKland in the morning and made 21c for my day. Position closed already.

Market Set for a Pop-Up in Open

Good morning!
A quick note here first, US futures up quite a lot, SGX should be open bullish. I have long candidates under my radar:

Indoagri
HKland
SGX
Genting
SAR

Do note your risk, don't chase if up too much.
Will update you soon.