Go for Defensive Play

Ascendasreit is one of the denfensive counter at 1.90 major support now. For long.

STI Immediate Support: 2700-2715

Good morning everyone.

STI closed at 2728 yesterday, broke down its important support 2740 level. It's expected  it will fade the gap today, my immediate support 2715-2700.

The EU summit resolution today will impact the whole market sentiment.

STI Sank On Opening

STI gave back all its gain yesterday and more, properties leading the dive as government moves to curb housing market by additional buyer's duty(ABSD).

STI's immediate major support is at 2740 is still intact by now, STI -37.61 at 2745, low of the day so far is 2739.95 as at 9.36am. while upside resistance is 2776( 38.2% fibo pull).

STI Support: 2740
STI Resistance: 2776

Talk to you soon.

Market Wrap

Here's a quick market wrap for today, STI closed up by 33.31 to closed at 2782.55, it crossed 2776 (38.2 fibo pull) mark, and broke past four days resistance at 2772 too, a good sign for bulls. Next immediate target for STI is 2810, then 2850. You can feel my cautiousness as the targets are pretty much close. And I think market will watch the EU summit result on this Friday 9th Dec.

As for individual stocks, star performer today is CAO, NOL, YZJ, Mewah and my favorite HKland US$ just 4.82 resistance, more upside are expected.

My long watchlist for tomorrow:

Genting Sp
Soundglobal
Cosco

See you soon.

Mewah Breakout

Mewah break its resistance 49c right after opening this morning. showing some buying pressure. It's 51c, up2.5c now. Target is 55-58c.

Major Indices Fibo Pull Update

Below table is the summary of world major indices YTD number as compare to their last year closing level. As of 5th Dec, only Dow and Nasdaq better than last year.

SoundGlobal

It's time to make a decision--either up or down, as soundblobal approaching its apex in the triangle formation. It appears to me the odds are slightly bias to upside. let see how it works out.

Uptrend Stocks (updated)

STI recovered it early morning loss and closed positive with 11 points gain, STI clsoed at 2773, the odds is to upside as long STI holds above 2750 support. below is the uptrending stocks(or stocks above 20/50ma) updated by today.

Soundglobal
Kepcorp
Sembcorp
Sembmar
STX OSV
DBS
JArdine C&C
F&N
HKland
Capitaland
Mewah
Goldenagri
FirstRes