Looking For Long Weekend Ahead

STI is currently trading at 2857, two points above the 50% level 2855,(pivot points I posted few 1 Nov, click HERE). Trading is all about numbers and levels, amazing.

I'm bullish if STI can CLOSE above 2855.

I'm leaving for my long weekend holiday now, most likely I will update you again on Wed.

Have a nice weekend ahead.

Long Candidates

US market was up by 208 points to closed at 12044 last night, it will add some upbeat momentum to STI today.
STI has completed probably will end its consolidation after its break-out from its inverse head and shoulder pattern.

I see STI will resume its upside move, with next target is 2900 and 3010. Support level is the neckline 2780.

Long Candidates:

DBS( 12.33 support)
Genting Sp
SIA Engg( dividend play, xd 6c on 11 Nov)
Indoagri
Noble grp
Kepcorp
Sembcorp
Sembmar
Wilmar

STI Testing 2780 Support Again

STI is not as bullish as I expected. It forms an inside bar instead, was contained within yesterday's trading range.

The US dow futures dropped 152 points at 11616, and FTSE dropped 86 points to 5396, as I'm writing now(3.48pm), put much downside pressure on STI.

STI yesterday gaped down below 2780 yesterday on open and rebounded above it, today it gaped down again at open, and from 2801driftingdown towards 2780support( 2780 is the neckline) ,thus if 2780 can't be hold, I will have to change my bullish view to bearish.

DBS More Upside

Bulls Regain Its Power

STI has tested its head-and shoulder breakout point--the neckline yesterday and rebounded, and we have a bullish engulfing pattern on STI daily chart. The bulls seem gain its power again, though couple of big events--the Greece Crisis and US economy concerns are always "renew" itself on headline from time to time. And we got new crisis-- the MF global bankruptcy, as it was linked to then Lehman brother effect...

We are in a messed situation now and it seems it won't be ending anytime soon. Given such situation, I will focus on identifying which side got more power( bull or bears) and follow the winner. Act like a Guerrilla.

For STI, if it can stay above its previous "pivot" point 2855(50% Fibonacci level), the bulls will "reiterate" its power.

Long Candidate

STI fully covered its early morning loss and turns to positive now, +2 points at 2792, i see many blue chips are retraced to their 20/50ma support and rbounding now. A good chance to buy "low".

Below are my long candidates with plenty of room to upside, with their support level,:

Noble at 1.50, 20/50ma support
Sembcorp 4.0
Sembmar 3.8
DBS 12.0
SIA 11.3

Cosco 1.0
Genting 1.65

STI Immediate Support:the Neckline 2778

This is a trader's market, if you were long last week when market break out and soared to upside, you probably made a stunning paper profit within few days, but if you didn't take profit when market turned down. You will back to square one by yesterday, or today.

Dow's support: 11577 (2010 close)
STI immediate support will be the neckline it broke out last Thursday: 2778, we have 20 and 50ma just below this level as well. the next support will be 2695.

will update you again.

STI Support 2820-2778

STI dropped 50points to closed at 2855 level, which is exactly its 50% level to year 2010 close. As US market retraced last night, STI is down 36 points at 2820( 9.31am) as I'm writing this.

Uptrend is intact for the major US indices, the major benchmark level( or rather pivot point for uptrend) I'm looking at are as below, ( the "50% level"):

STI support area will be at 2820-2778(the previous breakout level where market started its run-up).

I'm looking for buy-on-dip once its retracement completed.