Weekly/Montly Wrap

It's the end of month for Jun. A red sea of blood for all the six major indices I monitored. refer to the first table below, Dow dropped the least with 1.4% or 206 points down, and Shanghai lost the most with 321 points or 14% down. Money outflow from all market reacted to Fed's possible reduce of stimulus plan. China market hit lowest since 2008 financial crisis bottom on banks cash squeeze. SSE closed below 2000 level this month. market sentiment is very weak.

STI closed at 3150, lost 160points or 4.9% in Jun--it's biggest drop since May 2012. Gave back all its gain this year and moreover, below last year end close(YEC) 3167--which is a bearish sign.

STI monthly chart formed a big red candle with a little tails below--which shows rejection to drop further(possible short recovering at month end), the candle is basically very bearish. It just broke below the major uptrend channel at 3190.

There isn't bullish reversal signal yet, 3065(month low) level for downside immediate support. Bullish bias if it can rebound above 3167 YEC.

Below table is major indices weekly close. Some window dressing at month end with five indices gain on weekly basis, while SSE dropped another 4.5%.

STI weekly chart below. It formed a green candle after five red candles, finally rebounded. Unlike its monthly chart, its uptrend channel is still intact in short term weekly chart. Will be watch 3167 for more upside or channel bottom as support.

Singapore Stocks Related to Japan

According to Bloomberg, there are 14 Singapore listed company with at least 10% revenue come from Japan.

Friday Indicator

US up by 114 pts last night @15024, the important 15000 level is holding well by now.

STI +13@3118, it rebounded to high of 3152 in the morning session but was down to fill the gap in the afternoon session. The gap between Thu and Fri is at 3109-3125, on weekly basis, I'm bullish as long STI CLOSED above its 50% fib( wk high to low) at 3109, also its gap bottom level.

STI weekly:
61%: 3120
50%: 3109
38%: 3099

stocks to focus today:

Starhub
DBS
Kepland
Ho Bee
Wingtai
UOL
AIMSAMP

Long Candidates

AIMSAMPReit

 CWT

 Hi-P

 Kepland

 Sinarmas

Singapore listed China ETF Hit New Low

The only Singapore listed China ETF "UETF SSE50 China100X"( code: JK8) ETF dived to new low yesterday following China banks cash squeeze crisis. The ETF is comprising 50 top China listed companies in Shanghai stock exchange.( click HERE for more information)

The United SSE 50 China ETF aims to provide investment results that, before fees, costs and expenses (including any taxes and withholding taxes), closely correspond to the performance of the mainland Chinese equity market as measured by the SSE 50 Index. Securities eligible for inclusion in the SSE 50 Index include equity securities issued by companies incorporated in China, and listed on the Shanghai Stock Exchange (SSE) in the form of A-Shares and are denominated in Chinese Yuan. The SSE 50 Index is an index consisting of 50 constituent stocks which are the 50 largest stocks of good liquidity listed on the SSE. The objective of the SSE 50 Index is to reflect the performance of the good quality large enterprises, which are influential in the SSE. The United SSE 50 China ETF is the first China A-Share ETF to be listed on the Singapore Stock Exchange. It is also the first China A-shares ETF to be denominated and traded in Singapore Dollars.

Technically,UETF SSE50 hit new historical low yesterday to 1.44 following SSE's panic selling and recovered in the afternoon to close at 1.53, its support is at 1.47. Its currently trading at 1.51(2.59pm)

Weekly Wrap

For the week, global markets continue its fall. STI fell the least for 1.2% down and Shanghai fell the most of 4.1%, among the six major indices I monitored.

As for STI, it has been down for five consecutive weeks already--its longest streak of fall since 2008 Financial Crisis. We are below a major uptrend channel bottom(weekly) this week. STI lost 37 points to close at 3124, below its 2012 year close 3167 level.

On its daily chart, STI open gap-down 52 points at 3081 on Friday morning, and filling the big gap through-out the whole day to almost closed the gap, minimised the loss to 9points only. Market is still weak but Technically, market is at extremely oversold level. The immediate support to watch for coming week is 3100. Immediate resistance level is 200ma at 3195 level.

Singapore Great Haze-- FREE!!

Japan Economy in Focus

Long Candidates

STI +43points at 3227, rebounded strongly today. Reclaimed to above 3220, after it spiked down to below 3100 three days ago. It's now above last year end close 3167 as well.

Bullish reversal stocks with their current price:

K-reit 1.4
First Reit 1.26
AIMsAMP 1.66
GLP 2.73 (CD now)
Cache 1.275

Olam 1.735
HPL 3.21
Ho Bee 1.985
OCB 10.3
SGX 7.34
UOB 20.61
Sembcorp 4.94

For real time daily market updates and stock picks, please refer to my facebook "Trader Kakis Group"( for members only).

Weekly Wrap

For the week, global stock market continue its fall. STI fell another 23 points or -0.7% and HSI lost the most at 600 points or 2.8%, among the six major indices i monitored.

My STI momentum indicator dipped below 60 level this week, indicating extremely oversold.( refer to my previous post). It has bounced back up every time it dipped below 60, since 2008. It telling me STI might found its support around current level around 3100. STI closed at 3161, which gave back all its gain this year and 6 points below its Yr 2012 close 3167 level.

Market Set for a Bounce

US +180 points last night, Dow rebounded back above 15000 level. The maily financial stocks index SPX gained 23 pts as well to 1636.

STI dipped below 3100 level yesterday then rebounded and closed at 3130, lost 22 points. The blue chips seen bullish reversal signal with rebounce. It's expected the badly sell-off index to rebound today. the immediate target is 3190@ 200ma.

Bullish reversal stocks for rebound today:

 DBS
UOL
CMT
FortuneREIT
Capitaland
SMRT, (super high vol)



QE Headache...

Stocks at/Near Major Support

Stocks at/near their 200ma below, with 200MA price:

Mapletreelog 1.18
mapletreeCom 1.275
MapletreeIND 1.41
Cache 1.265
ComfortDelgo 1.81
FrasersCT 2.01
HPH 0.98
LippoMall 0.495
Starhub 3.975
Suntec 1.685

Uptrending Stocks as at Jun 7

Uptrend stock by Jun 7, 2013

Amara

Armstrong

Asiansons

Bundcentre

ChinaAnimal Health

Cosmosteel

Dukang

Ezion

Gaylin

IHH

ISDN

King wan

Nam Cheong

Osim

Rowsley

SATS

SeeHS

Shengsiong

Silverlake

Sinamars

Singhldgs

Sinograndness

Sky one

Stanfordland

Supergroup

THBEV

Wing tai

XMH

Yoma

Yongnam

KepT&T

Weekly Wrap

For the week, STI dropped another 3.8% or 126 points. closed at 3184.7, do remember 2012 YEAR END CLOSE is at 3167, we are just 18 points away.

US market rebounded with 200 points gain on Friday. It's expected STI should follow as the recent sell-off is overdone. It's obviously to me that the funds are flowing out of Asian market and go back to the US. All the three US indices are green and all the four major Asian indices are in sea of blood.

 

Asian major indices performance over the past three weeks.

 

STI daily chart. the current level 3167( Yr2012 close), 3190(yr 2010 close) and 200MA @3184 together should provide STI a major support. A technical rebound is expected.

STI hit 200MA major Support 3187 Today

STI continue its dive without any brake, lost another 45 points(4.46pm) to 3197. It hit its 200 Moving average at 3187 early today.

Stocks at 200MA support for possible rebound:

GLP

STI Hit New Low Since Jan

STI hit new low today, dragged down by Japan and Hongkong market. It hit new low since Jan 24 this year, closed at 3243.43, lost 47.92 points. In past nine trading days, STI has lost over 200 points or about 6% from its year high around 3450. It's really rare to see this kind of dive. I think its overdone.

In big picture, STI below its 20 and 50ma, today's closing level 3243 is just above its Jan resistance 3235( first circle from left in the chart below), now turns to possible support. 200ma major support is at  around 3200 level.

 

STI Hit Two-month Low

STI hit low of 3260.12 in the opening today. Hit new low over past two months. My bias will be changed to bearish if it closed below 3280 this week. STI now trading back to its "normal zone" 3320-3280.

Weekly/Monthly Wrap

For the week ended May 31,  STI had its biggest drop in a year, lost 81.8 points or 2.4%. Its previous big drop was May 2012, which lost 3.6% each week in the first two weeks 2012Yr.

Take a look at below Index weekly performance table, STI is the worst index among the six major indices I monitor. Are we over reacted? worried too much to the Fed's debt purchasing? SSE is the only green index with positive gain last week.

Take a look at STI weekly chart, we are back down to its previous resistance level 3207, now turns to possible major support. The general uptrend is well intact. It's expected STI could be "rest" or consolidate in the range 3280-3320, before it resume upside move. I will be looking to slowly load some stocks in coming week.

Below table is the indices monthly performance for May. Do we have the evidence for the famous convention "Sell in May, go away"? Yes but only for HSI and STI. The rest indices are very bullish in fact. For the whole month of May, STI lost 56.8 points or 1.7%, the worst index in May. Iinterestingly, STI dropped the most in last May as well. So...conclusion is we Singaporean a big believer in "Sell in May, go away"?? Err...