The Santa Claus Rally Period

We are into Santa Claus Rally period--historically.

STI uptrend looks decent, it stood nicely above the long term congested area( tinted color), I'm watching those rebounding from their support or at support stocks for potential long opportunity.

USD and S&P 500

Big pop means no drop? This was what happended on last Fri: USD a big pop up. The $USD breakout its 50dma and downtrend line. rose 1.28 or 1.7%



So what's the deal with the dollar? Are the Japanese in the process of devaluing the Yen and strengthening the dollar? The YEN (FXY) dropped a whopping 2.54% as the US Dollar climbed 1.44%. The euro (FXE) dropped 1.52%.


The markets have been moving opposite to the US dollar, but last Friday the S&P500 showed resilience when the dollar rocketed up to touch the 50 day average. Perhaps traders are holding on anticipating a Santa Claus rally.

T.G.I.F

Thank God It's Friday.

This week STI has been up by 46 points or 1.7%,(today no count) it hit a new yearly high yesterday at 2808.18, December historically good for stocks, I wish all readers here get some xtra money for a nice Xmas.

I'm going to take some money off the table today. STI is at its upper channel, any retracement to its support level will be hunting opportunity for bulls. The bulls seem very defensive to go down-- support lines are very strong make bears difficult to crash it. Anyway, the immediate major one support is 2733 thereabouts. To the upside, it seems plenty of rooms...

New Long Ideas

Couple of notable things for today:

1. US Unemployment claims before market open tonight at 9.30pm
2. ISM Non-Manufacturing PMI tonight 11pm

These two data surely will affect investors sentiment.

okie, as for Singapore market, I'm seeing the 2nd tier stocks started to move now, after the blue chips ran up in front. Below are the stocks have POTENTIAL to move higher. By potential I mean they have to really move up cross their resistance to trigger my long signal. No reckless entry right market open. I always wait for confirmation.

Remember: wait for confirmation then entry.
(Click pic to enlarge)

UOL

This stock breaking out its long term trading
(since may) range 3.63 now. and much promising to fly higher.

Long Candidates

The market is obviously bullish, I see many blue chips are ready to fly, DBS,UOB and OCBC showing good long signal, and below are the stocks I will pay more attention to:

ST Engg: Super nice uptrending stocks, all time favorite. long if break 3.2


Tiongwoon: was sell off heavily for the past two month, seems hit bottom at 0.57, with a bullish harami.


SGX: a nice mornign star at support level 7.85, target 8.15


NOL: rebounding from its 200dma, with major support at 1.51

Stocks at Major Support level

Hyflux: rebounding from major support 3.05


Creative: 5.8 support


Yanlord: 2.18 major support


SGX: 7.84 major support



Capitaland: major support $4.

Kepcorp

Watch out the tinted area for support, further downside if it broke below it.