The Notable Bullish Charts

Weekly Wrap

For the week, US markets ended in red as Nasdaq was sell-off heavily on Friday. Nasdaq declined 0.5% whereas DJI and SPX slid 0.3% and 0.1% on weekly as well.

In Asia, the indexes performance rather mixed. STI scored another week of gain, with 13.77 points or 0.4% up, SSE and HSI lost ground with 2.9% and 2.4% decline respectively. STI probably would react negatively on coming Monday, following US drop.

For STI, it has been very bullish for the past five weeks. However I'm a bit of cautious on its coming week performance given current negative momentum in HSI, SSE and in the US. In short term,upside is limit  it may consolidation or retraced. The immediate support is at 3250-3260.

Genting SP Set for Rebound

Ezion Poised for More Upside

Ezion had a breakout from its double bottom formation. More upside is expected with target at 2.34 then 2.45.

Weekly Wrap

For the week, US markets rebounded. SPX and DJI added 2.7% and 2.4% respectively, fully recovered from last week loss. COMP had 2.4% gain, its first week green after 5 week red.

STI had new high close since 2 Aug with 55.58 points or 1.7% gain. HSI and SSE lost 1.1% and 1.5% respectively.
STI currently trading at 3250-3260 resistance. It's expected the index would consolidation or retrace a bit in coming week, the momentum is still bullish.

Few Nice Charts...

Weekly Wrap

Same as last week, the Asian three indices i.e Shanghai, Hang Seng and Straits Times outperformed the US three major indices this week.

SSE and HSI are the only two green indices with weekly gain of 3.5% and 2.2% respectively, mainly attributed to the announcement of cross trade between both markets by China government. STI not much affected by the US sell-off, lost little 14.5 or 0.5%.

US markets were sell-off heavily for the week with 2.4% to 3.1% loss. Possible due for correction after their surprised run-up since last year. The stocks there are already "very expensive" and investors turn to value from growth now. HSI and SSE are the two markets at very low valuation. It's possible funds are flowing back to Asia from the US. Anyway, US markets are still in up trending though a correction is possible.

STI daily chart with its target projection.

Core List for Bull

From my FB message:

Apr 9 Wed, stockwatch

My corelist for bullish setup stocks, with HIGH probability they will move up further from current price( stated below). MUST SEE! Let's check again here after one month (though I'm typically trade short term from one day to two weeks.)

Oxley 0.765
Pacific Radiance 1.1
Sarine 2.57
UE 2.1
UE E&C 1.44
Vard 1.045
Boustead 1.86
Q&M 0.435

Bullish Setup

CapitaComm

 UE E&C 

Weekly Wrap

For the week, Asian three major indexes outperformed US market three major indexes. Asian indexes gained from 0.8% to 2%, whereas DJI and SPX gained 0.5% and 0.4% respectively, the Nasdaq lost 0.7%.

US markets were sell-off heavily, with COMP dropped 2.6% to its 8-week low. SPX and DJI also formed a bearish shooting star candlestick which are bearish indicator for coming week. It maybe a key reversal day for the US market.

HSI got 2% up in the week, back to its Year-End-Close(YEC) figure 22657-22306. It's now in " balance".

STI had first time outperform its last year close. Closed above YEC 3167-3190. It hit new 5-month high since Nov but unable to break 3220 resistance. The outlook is bullish though it may retreat in short term.

Index Performance for March

STI has surprisingly scored top gainer in the table below for the month of Mar, with 2.5% up, distanced from 2nd in the rank DJI, which gained 0.8%. HSI at bottom with 3% loss in Mar. 

STI hit its 3-month high of 3194.32 in Mar. In a big picture, STI is positioning for further upside move though in short term it may pull back or sideway consolidation for a while, after recent run-up. Next target for STI is at 3250. It closed at 3192.78 today.

STI's Turning Point Today

STI hit intra-day high of 3214.89 today and selling off forming a bearish candlestick on daily chart--first after 5 days consecutive surge for about 200points. I see Limit upside below 3220. In fact, this round of up move for mainly for few index stocks, most mid-small cap remain mute. Singapore market becomes very tricky to trade. Need to select stocks very carefully nowadays.