Few Long Candidates

STI this morning had a big swing, it gapped down to as low as 2985 on opening, a 47 points drop from yesterday closing 3032. It then rebounded immediately to above 3000 within 5mins time. Such a fast swing is mainly due to month end settlement date window dressing. The big boys sure got a fat pocket by selling off then buying up. STI is trading at 3028 as at 1.37pm, 4 points down from yesterday's close.

STI is testing recent high of 3030, try to move higher. I have few long candidates below:

STX OSV:

 Interra Res:

Sheng Siong More Upside

Sheng Siong closed at 48.5c today, breaking out. Uptrending, more upside is expected, target 53.5c.

High Speed Trading

High speed trading is also known as Algorithm Trading or Algo-Trading in short.

Weekly Pivot

STI weekly pivot level for the week start 30th Jul.

R3: 3082
R2: 3056
R1: 3027
PP: 3000
S1: 2971
S2: 2945
S3: 2916

Continue to monitor in coming week see if STI can hold above 3000.

Weekly Wrap

Let's review world major indices for the week. US market three major indices starting to move higher, after five weeks of sideway consolidation for Dow Jones Industry Average(DJI), and similar to S&P 500 and Nasdaq index. Their gain with closing price:
DJI + 253 or +2%, at 13075
SPX +23 or +1.7%, at 1385
Nasdaq +32 or +1.1%, at 2958

All the three indices have more space to move upside. One major event market will watch is the Fed FOMC announcement on 1 Aug. Market is expecting possible QE3.

In Asia, Hang Seng and Straits Times both are flat in the week with little change. HSI formed a doji at 19000 support, STI formed a doji at 3000 resistance, kind of rest after recent run up. If HSI got to moving higher, STI probably will follow as well.

ShangHai continue drop lower this week, for two months already. Next target is 2044 if it were continue slid.

Video of the Week

Why Italian Restaurant Failed in Dubai

Cosco Breaking to Downside

It's a pump and dump day for STI. It closed at 2998.49, about 2points below 3000.

Cosco broke its major support level 96.5c today. More downside is expected with target 90c.

Friday Indicator

The Dow Jones Index (DJI) gained 211 points last night, the biggest gain in one month to closed at 12887. So far, US major indices DJI and SPX uptrend is well intact.

Our local index has gone up a wonderful uptrend as well. STI managed to stay above 3000 yesterday to closed at 3004 points. Friday indicator levels:

61.8%: 3006
50%: 3000
38.2%: 2994

It's tight range this week as STI has been trading in the sideway manner over the past four days.

Biosensor at Support

Biosensor at 1.2 support, formed a doji yesterday. More upside expected.

Hkland Breaking out from Consolidation

STI in kind of roller-coasting mode today. Has been fluctuating in range 2980-3000.

HKland is resilient to recent market retreat and been consolidated for more than 10 days, it's breaking out now, at 6.0 as at 4pm. target 6.2 by projection.

Venture at major Support

Good morning. DJI dropped for mora than 200 points in the session and recovered to lost only 100 points at close last night, in daily chart, US market major indices DJI and SPX uptrend is still intact.

high dividend yield candidate Venture dropped to its main support level at 7.6

Olam Vulnerable to Further Downside

As I posted previously for shorting candidate Olam on Jul 2, 2012. (click HERE for details) Olam resumed its downside one month consolidation, with target unchanged at 1.225 still.

Market Selling off

It comes... finally.
4.27pm, DJI Future -116; FTSE -89;  HSI -680, STI -40 at 2975.

STI was selling off heavily today. As what the charts tells me as it hit major resistance last week. Market is down on concern over "China Slowdown and Greek concerns"--if you wanna find out why market down today from the news. To me, all the news are stories and are just props.

STI immediate support I'm looking at is 2950.

Weekly Level

STI pivot levels for the week start from 23rd Jul.

R3: 3090
R2: 3065
R1: 3040
PP: 3015
S1: 2991
S2: 2966
S3: 2941

Weekly Wrap

Hello all.

For the week, US major indices DJI and SPX had little change, basically continue in their sideway action. DJI had gain of 45 points to closed at 12822, SPX gained 5.8 points to closed at 1362. Below are their weekly charts:

Asia major indices, HSI had a green bar but formed an inside bar to its prior week. SSE hit its six months low this week, kind of no-hope stock, continue its under-perform against other markets.
STI is the the best among the three Asian indices, had a almost 20 points gain this week to closed at 3015, right at its yearly high, it hit its 11 months high indeed. Right at its major resistance level now.

For STI, It will be tough for traders in coming week, major companies' earning reports is another factor to monitor for new direction.

Friday Indicator

STI hit new 11 months high yesterday, it's a kind of strong nice uptrend move, with every day's high become next day's pull-back support level.  We are going to have a strong bullish weekly candle if it closed positive today.

A word of caution: market never run up a straight line, we are on the "top" of the trend now, so stay cautiously and be nimble instead invest heavily.

Today's Friday Indicator very tight.

61.8%: 3021
50%: 3015
38.2%: 3009

Long Candidates

Wing Tai: nice uptrend, with target 1.44, 7c profit target.

 Ezion: had breakout from its conolidation, target 1.02.

STI at Year High 3030

STI went up to as high of 3027.07, just few points below STI's one year high of 3035.78. STI currently hovering at 3000 level. There are some profit taking going on but not in heavy selling mode, STI facing upside resistance as well. Market is expected to be tricky and tough to trade.

Tasty F&N

Cordlife Rebounding from Support

Cordlife had a breakout at 48.5c three weeks ago, it then went up to as high as 56c, it came down "home" to 48.5c again yesterday, reboudning now at 49.5c. More upside expected.

GoldenAgri

Goldenagri breaking out its resistance 72.5c, now 74.5c, more upside expected.

Some Exciting to Be Expected

It's a dull market today, STI with little change for the whole trading session with only last minutes close matching jumped up to closed at positive. What I have in sight for tomorrow, if it goes higher is these two counters: Biosensor and STX OSV. Nice charts and poised for more upside.

Biosensor:

 STX OSV:

After all, I enjoyed this nice songs after a day of dull market:

Weekly Pivot

STI 3000 important level in sight for coming week, combine with its pivot levels:

R3: 3091
R2: 3045
R1: 3020
PP: 2975
S1: 2950
S2: 2904
S3: 2880

Weekly Wrap

Hello guys, sorry for my late update on the Weekly Wrap. I just came home from my two-day weekend Malaysia durian trip. Great experience to eat freshly-dropped durian in the durian farm. Great taste.

DJI and SPX had a big swing for the week, DJI dropped as much as 280 points then rebounded to closed flat this week at 12777.  Weekly candle looks bullish with target at 13230 for coming week--its horizontal resistance.

SPX: chart looks similiar to DJI, bullish candle at support level with target at 1425 for coming weeks.

STI: Six weeks gain in a row. It's touching 3000 level on Friday, closed at 2995.56 this week. Immediate "resistance zone " is at 3000-3035, if it were to break the major trendline resistance. I'm cautiously bullish.

Friday Indicator

STI dropped 17 points to closed at 2972, but still contained in the range yesterday, kind of sideway action.

Friday Indicator levels:

61.8%: 2970
50%: 2962
38.2%: 2955

English Pronunciation Lesson

Cosco

Cosco looks good potential to upside still. It had a breakout four days ago on high volume, then retraced to its support level at  around 1.01, poised to move higher now, 1.035 as at 9.49am.

STI Retreated

Morning everyone. I was rather quiet over past two days. STI hit 2980 high on last Friday and retreated on Monday, a very challenge market now as it may go sideway or retreat,--- after five weeks run up. I'm waiting for a clearer direction.

STI overall uptrend is still intact, it hit support level 2940 this morning and rebound a bit. I'm watching STI immediate support 2940-2930 for the time being, my bias is upside as long these two levels are hold.

Weekly Pivot

STI weekly pivot levels for the week start 9 Jul, 2012.

R3: 3103
R2: 3042
R1: 3010
PP: 2949
S1: 2917
S2: 2856
S3: 2825

Do take note 2917 level is the 50% fib level as well.

Weekly Wrap

STI ended with a bullish weekly candle. It gained 100.1 points or +3.5% to closed at 2978.55 this week. STI have had 278 points or 10.3% gain over past five weeks, from 2700 all the way run up to 2978. Stock never go up or down in one straight line, I will be stay cautiously for a possible retreat in coming week, as STI is approaching its important resistance level 2990( or 3000 max). As for the downside, first major support level I will be watching is 2900.

Friday Indicator

It has been a bullish week so far for STI, Friday indicator levels:

61.8%: 2940
50%: 2930
38.2%: 2920

Do note we are approaching STI prior "top level" and also the important psychology level 3000.

Small and Mid Caps in Play

It's mid and small caps in play now, after most of blue chips already up. Bullish counters with their current price:

YZJ: 1.065
Cosco: 1.045
GLP: 2.17
STX OSV: 1.555
OrchardP: 2.1

Cosco Breaking Out

STI had a pull back in the morning to 2850 and resumed its uptrend after that, currently up 13 points at 2962. It may test 2990 level in coming days.

Cosco breaking out its resistance 1.02 after more than one month consolidation, currently 1.035, more upside is expected with target 1.08.

STI Entering "Resistance Zone"

STI has been soaring up for more than 150 points so far since last week, from 2800 to 2950 now(10.27am), today's high is at 2964.61. It bouncing up to the gap between 2990-2950 (4/5-7/5/12), which turns to resistance area now. We are at the "top" side, it may go sideway consolidation at this area or retrace if there are any bad news from EUR.

Long Candidates

HPH: Had a solid breakout today with high volume, target price 80c.

Biosensor

Biosensor more upside IF it can CLOSED above 1.16, immediate target 1.2. Current price 1.16 as at  9.18am.

HL Asia Update

For whose who on board Hl Asia yesterday, my immediate target 1.7 already reached. it closed at 1.725, up 11c or 6.8% yesterday. This stocks has the tendency to continue climb higher and higher historically. The big bullish candlestick telling me it may continue move higher too... next target 1.98.

HL Asia Bottom Up

HL Asia bottom up just now after long time consolidation, more upside. Current price at 1.66. First target 1.70.

Olam Still Expose to Downside Risk

As I posted on May 25 for Olam's H&S pattern( click HERE) it has bounced up a bit after the plunge, but it still under selling pressure, take a look at below updated chart. Anyway, the first sign to watch for more upside move is if it break above its downtrend line(red color) at around 1.90. Otherwise, my target for downside still remain unchanged at 1.225.

Weekly Pivot

STI weekly pivot level for the week start from 2 Jul:

R3: 3013
R2: 2955
R1: 2917
PP: 2860
S1: 2821
S2: 2764
S3: 2725

The middle wave 50% fib is at 2905. I will be looking for diiferent levels for cross confirmation of STI direction.

Weekend/Monthly/Quarterly/Half Year Wrap

Hello everyone. Hope you have had a nice weekend. As my fixed schedul for every Sunday morning, I go for hiking with my Hiking Kakis Group. I have been doing this for more than two years, it already became part of my life. After a sweating hike( usually two hours), I just feel my whole body is emptied and purified, and I especially enjoyed the breakfast time with fellow hiking kakis after that. We gather at a big round table sitting for 10pax, at a not crowded hwaker centre corner, with slightly cool morning breeze, enjoy our breakfast and drinks together. We chit chat lively all topics including food, fun place, news head lines, and we just decided in the morning to have a getaway in Oct. Great.

Let's talk about market, Mr. market has had a marvellous rally towards the end of the month, also the quarter, on good news from the ECB plus perhaps the end of quarter window dressing. This is annoying because it out of everyone's surprise, maybe for no reason. But it rallied. The only question we should ask ourselves is did we catch it? why we didn't, not to questioning why it rallied. I did catch few nice trades as I posted 'em.

I'm offering you below performance stats for world major indices over past week and month. Shanghai is the only market had negative performace.

 STI: approaching its middle wave level at 2905( 50% fib).

STI Monthly: In longer time frame, STI uptrend channel holding well. It rebounding from its bottom channel this month.

 DJI: weekly shows it closed above its 50% fib and just above its 61.8% fib level. bullish.

 DJI: long time uptrend channel well intact.

SPX: Weekly chart shows it just at 61.8% fib level. well above its middle wave level. Upside bias.

 SPX: monthly chart shows long time trend well intact as well.

HSI: bottom outfrom its major support

HSI: long time chart shows its uptrend channel is well intact.