2 Monkeys Rejected Unequal Pay

This is good...fairness

UOB Reaching Target 19.0

UOB as my called on 24 Nov( click HERE), target is going to reach in one week. At 18.98 11.18am now. It rised for 89c this week. What a run.

STI One Month High

It's the last trading day of the week and also the month of Nov today.

STI made its monthly high at 3076, up 30points (10.30am). Take a look at STI monthly chart( life) below, take a look at the monthly candle, do you see a hammer or a hanging man? So what's your expectation for STI's Dec movement?

IndoAgri target 1.29

Indo Support 1.24, target 1.29.

Stocks to Watch

STI hit three weeks high today with 56 points gain, closed at 3045.9.

Bullish set up:

China MZ: closed at 83.5, support 81c, tgt 87.5c
Chinafish: at its multi year low since Apr 2009, @ 75c
Indoagri: target 1.29, closed at 1.25, sppt 1.24

ST Engg @ 3.62 Resistance, target 3.89 if break.

Ezion Target 1.50

Ezion breakout its resistance 1.43 just now, 1.44 @12.29pm. Target 1.50

SPH Target 4.28

SPH posted few days back (click HERE) moving up towards my target 4.28, currently 415 +3c.

Stocks To Watch

Bullish:

AscottReit
SuntecReit
SPH
Singtel

The above stocks is bullish today despite current sluggish market sentiment.


Bearish:
Olam

STI in Consolidation Mode

STI is in consolidation mode within two week high 3013 and support 3000, (3013-3000).

UOB, Singtel and starhub are supporting the index, as at 11.23am:
UOB +16c @18.42
Singtel +6c @3.23
Starhub +3c @ 3.66.

Stocks to Watch

SaizenReit

Sheng Siong

Weekly Pivot

STI weekly pivot levels for the week start from 26 Nov.

R3: 3053
R2: 3023
R1: 3006
PP: 2976
S1: 2959
S2: 2930
S3: 2912

STI two week high at 3013, watch if STI can ovetake two week for for further upside.

GOLD and USD

The USD is cracking downside, while the Gold ETF(GLD) is breaking to upside. $USD support support level 78.7, GLD next target 173.5. Good sign for the stock market if USD went down.

Stock to Watch

UOB
HPL
Starhub
SPH

Weekly Wrap

For the week,
STI gained 43 points or 1.5%, closed at 2989.
HSI +755 or 3.6% closed at 21914,
SSE +12 or 0.6% at 2027;

In the US, for the week,
DJI +421 or 3.3% at 13009,
SPX +49 or 3.6% at 1409,
Nasdaq +113 or 4% at 2966.

STI is a bit lagged behind the major indexes( except SSE which has been "sick" for long time). To catch up, STI will have to first overtake its two weeks high at 3012, in coming week. Downside support at 2904(50% fib)

Friday Indicator

STI rebounded this week, after it hit four months low of 3931.6 on last Friday 16 Nov. High of this week is 2992 this morning( until 10.07am). 3000 is the pivotal point to watch.

Firday indicator levels:

61.8%: 2973
50%: 2968
38.2%: 2963

STI currently at 2986(10.16am). 2963 is weekly PP as well.

SPH: Upside Potential

SPH target 4.28. Note its XD on 7 Dec 12, Dividend 17c.

Blue Chips Strong Rebounce

STI up 25 points at 2984 (2.58pm), weekly pivot level,
R1: 2995

PP: 2963

the blue chips are rebounding fast. Kepcorp +30c, Sembcorp +16c, Sembmar +15c... live weekly charts below looks bullish.

Stocks To Watch

Ezion,
Capitacomm
Noble
Olam
STXOSV
Yoma
CapitaRchina

The "Lottery" stocks:
Cosmosteel
LippoMalls
Ying Li

Noble Grp Major Support 1.06

Noble has hit 1.06 support level for eight times since one year ago on 25th Nov 2011. It closed at 1.06 today. Will it rebound from here again? or else further downside if this level can not hold. Upside target is about 20c.

Olam Sell Off Hard

Olam dropped 13c or 7.5% today to 1.61 at the close, after the short seller Carson Block questioned accounts.

This is how its chart looks today. Not sure how many of you still remember my previous post about Olam 10 days ago on 10 Nov, (click HERE), I said it will drop further but I have no idea how it will do that. Anyway, my target 1.1-1.2 remains. Let's see how will it work out. (Remeber: It will not go down one straight line).

Yoma up 12.5 Today

Yoma up 7c or 12.5% today, breakout with super high volume. it also hit historical high at 64.5c, closed at 63c.

SuntecREIT Target 1.63

SuntecReits has been travel nicely within the uptrend channel since begining of this year for more than 50% gain. Current price at 1.56, target 1.63.

Long Candidates

US market rebounded last night, with DJI gained 207 at 12795, SPX+ 27 at 1386, Nasdaq +62 at 2916.
All rebounded from their major uptrend support line( refer to my weekly wrap charts).

STI closed up a little with 5points gain at 2950 yesterday, it expected to catch up today "Technical Rebound" is insight.

Stocks to watch for rebounce:

STXOSV
Noble grp
Genting sp
Wing tai
Kepple REIT
Bumitama

Weekly Pivot

STI weekly pivot level for the week start from 19 Nov:

R3: 3076
R2: 3044
R1: 2995
PP: 2963
S1: 2913
S2: 2882
S3: 2832

50% fib level at 2904, 61.8% at 2856.

Weekly Wrap

STI closed at 2945 for the week, lost 63.93 or 2.1% at four months low. The drop seems not  going to end so soon-- its weekly candlestick looks bearish. In fact, it just broken 3000 in the week. more downside is expected.

Below chart is STI the three fibo support levels to watch:
1) 38.2% @ 2953 (already broken)
2) 50.0% @ 2904
3) 61.8% @ 2856


For the US market, in the week:
DJI closed at 12588, lost 227 or 1.8%;
SPX closed at 1359, lost 20points or 1.4%;
Nasdaq 2853, lost 51 points or 1.8%
DJI broken its long term major uptrend, where both SPX and nasdaq are just touched their uptrend line. In the coming week, watch 50% fib level for possible rebounce.

HSI hang seng index closed at 21159, lost 225 points or 1.1%, continue its retracement after bearish wk candlestick seen last week, support level to watch is 50% @ 20500 in coming week

SSE shanghai index closed at 2014 , lost 54 points or 2.6%, SSE is just above its 2000 points, will it dip below 2000 points again within three months again?

Friday Indicator

It's a bloody week for STI, it has dropped 63 points or 2.1% as of yesterday. STI had gap-down in the opening today tested its weekly S3 @2938 then rebounded a bit. Low of today is at 2931.6 by noon. STI currently trading at 2946(@12.06pm).

Friday Indicator levels:

61.8%: 2985
59%: 2977
38.2%: 2968

Well, given current bearish sentiment, it will be difficult for it to reach any of the level today. STI has no signs of immediate rebounce.

Bears in Control, STI new Low

The US market was selling hard last night, on fears of  Fiscal Cliff which will start automatically start from next year, if there isn't any solution come out before that.

STI gaped down on open to its four months low, currently at 2954, down 23 points. STI already broke down from its consolidation, further downside is expected.

Fiscal Cliff: Key to Market

Definition of 'Fiscal Cliff' from Investopedia :

A combination of expiring tax cuts and across-the-board government spending cuts scheduled to become effective Dec. 31, 2012. The idea behind the fiscal cliff was that if the federal government allowed these two events to proceed as planned, they would have a detrimental effect on an already shaky economy, perhaps sending it back into an official recession as it cut household incomes, increased unemployment rates and undermined consumer and investor confidence. At the same time, it was predicted that going over the fiscal cliff would significantly reduce the federal budget deficit.

Stock to Watch

Potential Upside/Rebounce:

Bumitama
Genting sp
Sembmar
UOB
First reit
Wilmar

Potential downside:
Kepple reit
Olam

Weekly Pivot

STI weekly pivot levels for the week start from 12 Nov.

R3: 3087
R2: 3066
R1: 3037
PP: 3016
S1: 2988
S2: 2966
S3: 2938

Weekly Wrap

STI currently just above 3000 support, further downside is possible if it CLOSED below this level.

STI weekly:
DJI: Dow retraced to its major long term uptrend line support this week. It hit six times and rebounded in the past. Watch support @12750 in coming week.

SPX: S&p 500 still got 35 points to its major uptrend line. some more room to drop in coming week?

HSI: Formed a beasrish reversal candlestick, downside support at 20000.

STI

Olam Poised for Further Downside

My first time identified Olam got a Head and shoulder pattern was on 25 May, 2012( click HERE ), then following post on 2 Jul (click HERE ), Now I want to show you a perfect classic text book example for

1. Head and Should pattern,
2. breakout and pull back
3. Test of neckline( support turn resistance)

Wilmar Ready for Take Off

Wilmar poised for bottom out with high vol spotted on yesterday.

Obama Won 303, Dow Lost 313

Is there any rationship between Obama's win and DJI? There is certainly. But is there really such a close correlation in the numbers between Obama's votes and Dow Jones' lose? hmmm...

Obama's win of 303 votes turns to Dow's 313 points lose--its biggest lose in a year.

Note DJI dropped to its uptrend support line. The uptrend is still intact. I'm looking for long opportunities if it were rebound from here.

STI Hit New One Month Low

Obama has won the election.

STI hit new one month low early this morning amid of election result. It dropped to as low as 3013.52 then rebounding to 3033 now(12.34pm) as Obama has won the election. market rebounded.