Weekly Pivot

STI dropped 17.89 or 0.6% for the week, the selling is much under control to me, kind of consolidation in the range. For coming week, STI immediate resistance is 3088, and 3040 for the downside support.

STI weekly pivot levels for the week start from 1st Oct.

R3: 3120
R2: 3099
R1: 3080
PP: 3059
S1: 3040
S2: 3019
S3: 3000

Weekly Wrap, Monthly Wrap

The month of Sep has ended. In last month,  the indices hit new multi-year high, amid of  endless Europe debt crisis, US worrisome economy and slowdown of China Economy. Yes, it's new multi-year high since Dec 2007. Just to take note Dow Jones Industry Average Index(DJI) closed this month at 13437, its all time high is 14198( Oct 2007), it another 761 points away.

DJI monthly chart below:

SPX closed at 1440.67, hit new high since Dec 2007 as well. Its all time high is 1576.

 

Nasdaq( NDX) closed at 3116.23, hit new multi-year high since Nov 2000. Its all time high is farther away at 5132.52.



STI had a bullish month in Sep, closed at 3060.34, next target is 3190( 2010 close).

I have major indices performance for the week and the month below:

Friday Indicator

Today will be the last trading day of the week, and it's last trading day for the month and the quarter as well. Possible window dressing.

Firday Indicator level:

61.8%:  3063
50%:  3058
38.2%: 3054

Bullish bias if STI closed above 3058 today.

Long Candidates

Quick notes from screener results for today:

Amtek
Civmec
CSE
Yanlord
CMT

Guocoleisure (61c Resistance)

Yanlord Bullish Above 1.225

Yanlord rebounded from its 20 and 200ma yesterday and closed just above all its three MAs( 20, 50 and 200) and closed at 1.215, just benearth its recent downtrend line. I'm bullish if it CLOSED above 1.225 (resistance, week high).

Target 1.24 then 1.4(161.8% fib)

Window Dressing?

It's second last trading of the Month and end of 3rd quarter as well. STI rebounded with 13 points gain so far(4.20pm) at 3060. Recovered most of its loss yesterday. It filled the falling gap in between previous two days. Possible attribute to:

1. It retraced and tested 61.8% fib retracement level at 3045 and rebounded, in the context of the whole movement this round from 2977 to 3088. It will be consider a health retracement and I'm looking for more upside beyond 3088.

2. If it just rebound due to month end and quarter end window dressing, then it just a gap fading today, my hourly chart is still in downtrend unless it crossed and closed above my MA level at 3060 this week. The direction is unclear until then.

Note It's last trading day for futures Sep contract, whatever outstanding contracts will be settled based on tomorrow morning's opening price. Be prepared for vigorous movement in the opening.

(Click on chart to enlarge)

It's Coming....

STI finally hit my first fib retracement level at 3045( @61.8%), refer to my post on last Tue( click HERE),  STI currently trading at 3049 (1.06pm), day low at 3038.43, day high at 3050.29. STI weekly S2 at 3044. It missed few points to Fib 50% level at 3033.

I will looking for bullish entry signal at 3033( 50% fib, wk S3@ 3030), and 3020 (38.2 fib)

Wilmar: Recovery on the Way

STI dipped down yesterday and lost 10points. Today it has recovered most of its loss at 3073 now(9.51am). The index is pretty much in a sideway consolidation in the range of 3060-3088, with bullish bias.

Wilmar: I continue pay my attention to Wilmar, it rebounded recently after hit new low 2.99, to recent high at 3.35, has been flat in between 3.35-3.19 for one week, today it started to move up a bit a again, at 3.26 now(9.59am), my immediate target is 3.60 if it can break above recent high 3.35.

Weekly Pivot

Weekly pivot level for the week start from 24th Sep.

R3: 3122
R2: 3105
R1: 3091
PP: 3074
S1: 3061
S2: 3044
S3: 3030

The levels are very tight range. 3074 is also my Friday indicator level(one point differ, @3073). So continue watch this level for early signal.

Weekly Wrap

For the week, US market had little change, major indices SPX -5.62 at 1460, DJI -13.9 at 13579 and Nasdaq -4 at 3180. The indices uptrend are all intact and at topping.

As for STI, it tested 3088 again and closed at 3078.23 this week, unable to break it. For the time being short term resistance and support level I'm watching is: 3088-3000. Market is bullish bias but it can swing back anytime as we are at 3088 resistance level. A close above this level would mean more upside move.

Quotes

Friday Indicator

STI has been trapped in a narrow range of 30 points over past four trading days. So far, week high is at 3088, and week low at 3057.74 level. More downside if low can't be hold today. Friday indicator levels for today:

38.2%: 3077
50%: 3073
61.8%: 3069

Bearish bias if it can't CLOSED above 3073 today.

STI in Retracement Mode, Olam

As said in my previous post,Market has retraced from resistance 3088 to 3062 today (as at 3.56pm), I stay sideline now as it has yet reach my first target 3045-3050 level( refer to my post on Tuesday).

Currently, there are profit taking after this round of up move. Olam formed a classic support turn resistance at 2.13, a perfect text book example. Olam uptrend channel remain intact, I'm looking for long opportunity at 2.0 and 1.95 channel bottom.

Apple vs Samsung vs Nokia

STI at 3088 Resistance

STI hit high of 3088.35 yesterday, 0.1 points below this year high 3088.45 on 14th Aug.  I have mid term bullish view but also prepared for a possible retracement or sideway in short term.

The retracement levels:

3045( 61.8% fib, weekly PP @ 3050)
3032 (50% fib + 50 DMA, weekly S1 @ 3025)

Bullish Counters

IEV: closed at 60c, target 64c.

 K-reit: Closed at 1.155, target 1.22

 Sembcorp: closed 5.66

 Sembmar: closed 5.08, target 5.3

Weekly Pivot

Weekly pivot levels for STI for the week start from 17 Sep.

R3: 3165
R2: 3120
R1: 3095
PP: 3050
S1: 3025
S2: 2979
S3: 2955

Weekly Wrap

STI gained 58.72 points or 1.9% to closed at 3070.42 this week, the biggest gain in nine weeks. We are another 10points away to recent high ( 12 month high as well) at 3088. STI looks bullish, wind blowing to north with target at 3190( Yr 2010 close) if it can overtake 3088.

US market Dow and SPX both look bullish, as they hit their new multi year high since 2007 this week. More room to upside channel.

Wilmar Bottom Out

Wilmar has formed a bullish reversal pattern on its weekly chart. Current price 3.22. Target 3.62. MACD bullish divergence.

Bullish Set ups

Good news from the Fed FOMC. Dow up by 206 points. Quick notes for long candidates below:

HPH (S$)
OUE
UOL

Long Candicates

Long Candidates set up with their closing price:

YZJ 99.5c
ChinaMinZhong 73c
Yanlord 1.225
SGX 6.93

How Your Bag Could Be Stolen

STI Bullish

STI Gap up today and traded higher towards 3035 resistance, it tested 3035 and unable to break it( day high 3035.8), it then retraced back towards its support 3015, currently at 3024( 12.42pm).

Below is STI one hour chart, it has formed an inversed H&S , with neckline support at 3015 thereabout. I remain bullish as long 3015 can hold, with upside target 3060.

The Bullish Set-Ups

STI rather a quiet day ahead of Fed FOMC meeting on Thursday( Friday for Singapore), however, it showed some bullishness in late afternoon session. US market currently up for 70 points(10.30pm), it should give STI upside direction tomorrow.

I have below stocks for bullish set-up with their closing price today:

Genting Sp 1.375
UOL 5.42
FE Orchard 2.29
Sembcorp 5.53
Sembmar 4.98
DBS 14.56

FOMC Annoucement This Thursday

Market is speculating there are 70% of chance this round the FED will announce QE3 on this coming Thursday FOMC meeting.

Olam Poised for More Upside

Olam weekly Chart below, bullish candlestick spotted:

Weekly Pivot

STI Weekly Pivot level for the week start 10 Sep

R3: 3086
R2: 3057
R1: 3034
PP: 3006
S1: 2983
S2: 2954
S3: 2931

Weekly Wrap

The weekly wrap comes very late this time as I'm only got in front of my PC this evening.

STI formed a doji candlestick this week( not a perfect one though, 2 points difference between open and close), after it retraced back for two weeks. I'm seeing this as a bullish reversal signal. Confirmation comes if STI can trade above 3031 in coming week. near term target for STI will be 3088( don't want give a too target too far away).

US market three major indices all are bullish, SPX and Nasdaq already break previous high, while Dow Jones at resistance level. Bullish if the indices can hold this level.

Noble Grp Rebounded From Support

Noble grp hit its support 1.17 yesterday and rebounded. Bullish candlestick reversal pattern indicator more upside.

Friday Indicator

US overnight market got a huge pop, buoyed by ECB bonds buying plan. S&P 500(SPX) hit new multi year high of 1432.12, its new high since May 2008. Dow Jones and Nasdaq are at their recent high as well.

STI going to rebound today( a doji  was formed yesterday). Friday Indicator levels:


38.2%: 3009
50%: 3003
61.8% 2997

Bullish if STI can close above 3003.

Bullish Reversal Counters

Below are the counters formed bullish reversal candlestick on its daily chart:

No. Stock Name Triggered Date Triggered Rules


1 AMTEK ENGINEERING LTD
2 ARA
3 CIVMEC
4 ChinaMinZhong
5 DBS
6 HUTCHISON PORT HLDGS TRUST S$
7 IndoAgri
8 Olam
9 SPH
10 Yanlord

High Volume Breakouts

US market got a freaking rebounce now, good news from the ECB. Dow Jones has gained 215 points , and the SPX up by 23 points by now. Expected STI will follow up tomorrow.

Below are the high volume breakouts screened out:

FrasersCT: high volume today, breakout play if break 1.8 tomorrow.

 FrasersComm: very bullish breakout today. Poised to move up higher.

 Ezion:  high volume breakout resistance 1.08 today.

STI Below 3000

STI closed below 3000 for the first time in one month time. Trend is heading south now. First alarm for all bulls. STI closed at 2995.9, down 15.65 yesterday.

STI Testing 3000

STI dropped below 3000 level for the first time after it hit as high as 3088.45 on 14th Aug. It went to as low of 2993 this morning. Market is sluggish amid US and Eur uncertain outlook. 3000 is the pivot level for the chance to rebound or continue going down.

Below is STI hourly chart. Continue watch out the support/resistance levels for a possible turn up.

Bullish Breakout: UE E&C

UE E&C: Huge buying interest last Friday. More upside is expected. 0.635 now 11.47am.

STX OSV Breakout

STX OSV breaking out upside now, after two weeks consolidation in the range 1.5-1.53 , It's up 3.5c at 1.555(11.08am), more upside is expected.

Weekly Pivot

Good morning.

STI pivot level for the week start from 3 Sep.

R3: 3110
R2: 3085
R1: 3055
PP: 3030
S1: 3000
S2: 2975
S3: 2945

STI still holding above 3000 support level last week, it managed to recover a bit on Friday after dropped to week low at 3004.76

Weekly Wrap

STI rebounded 13 points to closed at 3025.46, back up to its support level( refer to my previous post) after Thursday's 30 points loss. In the whole week, STI lost 25 points or 0.8%. Since it's the last week of the month as well, STI lost 11 points or 0.4% in the month of Aug. Other major indices weekly and monthly performance as in the table below:

US market remain positive for the month, while HSI and SSE and STI all are red for the month. On the weekly basis, all major indices are red, indicate bearishness in near term.

Below are weekly charts for the indices:

STI is still holding above 3000, though weekly chart shows a red candle indicate near term bearish.

Dow: Retreated from its major resistance level 13220.

SPX: Unable to break major resistance 1425.