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The best charing tool is not the one telling you when will be the higher high or lower low.
It is superb if it can help you to predict what 's on coming market sentiment.
Its about time... any day now. : ) Tr@de w C@re
With a shooting star formed during morning higher high and STI unlikeloy to sustain it record, meaning pundits stand bull don't last. Traders feel that prices are too high to grab at this point.
With a doji formed lately, meaning traders with holding long position are hesitating wather to continuing hold or just profit taking.
It is amazingly the wisdom from 200yrs ago still works for todays market prediction.
Technical
ST Index- Look out for resistance/pullback near 3,880-3,900
Our earlier take
In August, we suggested that the ST Index?s decline towards 2,960 was either the completion of wave 4 or part thereof. Subsequently, on 24 September, we stated that wave 5 had commenced for both the ST Index and the DJIA from their respective lows in August.
:
What now?
The ST Index?s move suggests that it is somewhere within wave 3 of a fivewave structure from 2,960. As we had stated previously, the underlying fundamentals are often substantially weaker than the corresponding wave 3 (from 1,205-3,668) and the market becomes increasingly speculative. We have already seen examples of this, most notably the euphoric reaction on Singapore listed Chinese stocks to the setting up of the US$4b Qualified Domestic Institutional Investor (QDII) fund in China that caters to investments outside Hong Kong. No less a notary, Minister Mentor Lee Kuan Yew was quoted by the
At our end, we had recommended several stocks over the past two weeks, based on risk/ reward profile. Most of these, especially the China plays, have rallied sharply. At current levels, we see very few favourable trades other than banking stocks and selected small caps. For this week, we think that the ST Index will very likely face resistance near 3,880-3,900 and potentially weaken back to 3,740-3,750.
We will re-look stocks with attractive risk and reward profile, especially if the ST Index declines below 3,800. Support is near 3,740-3,760. Our recommendation is not to chase the rally on Monday but to wait for dips. Trading 5
As for HSI, we had stated that the index?s decline towards 26,830 was likely part of a fourth wave correction. Look out for a potential weakness back towards 26,830 if resistance at 28,500-28,700 is not breached in the early part of the week.
Business Times last Friday stating that the present rally was not based on fundamentals.th waves are often tricky and readers should be prepared for sudden and swift reversals.
SINGAPORE
Technical
K Ajith
��
ajith@uobkayhian.com
(65) 6419 5411
Japanese candle sticks are unreliable.
The shooting star on STI is bearish but STI makes a new high-just the opposite.
Please explain this phenomenon.
To prove that the candlesticks are reliable a controlled prospective study has to be done-otherwise it is very subjective -no better than a placebo in medicine.
It's not possible to sustain new record everyday. Some counters are rather expensive now. However, there are other counters which have just recovered from the recent Aug correction are still pretty cheap for now. Whatever and whenever the correction comes, trade cautiously.
The battle of penny stocks e-i nets and memstars continues today generating huge volumes.
HI paperless,
Thanks alot for the trouble you have taken. :)
As STI formed harami (bullish) and hammers (bullish) during mid august, STI proven to us it rallied, this time it formed shooting star (bearish), so whats next?
China Typhoon.... Guys I think this may have some imapct on China Stock market tomorrow.... Hope it does not cause a dip in Singapore.... US job data was quite encouraging...
Dear Paperless,
Whats this shooting star you are referring to?
Pls enlighten.
Shooting star was formed recently, STI correction might be ahead..
Last Friday important news was the US job employment report. Luckily I watched business news on TV 3 days ago and a analyst pointed to a possible positive report. US added 110 000 jobs and exceeded expectations. Dow up 91 points last night.
Newmoon numbers(series) for penny stocks;
This is made up oy the combination of the theory of squares and fibonacci numbers as explained below.
The numbers are;
1 1 2 3 4 5 8 9 13 16 21 25 34 36 49 55 64 81 89 100.
In an uptrend the numbers serve as resistances (targets ) and in a downtrend they serve as supports.
A prospective study can be applied to some penny stocks with high volome eg. e-i nets and memstars.
Any comments?
STI climb has been rather steep just before Sept and still climbing, do trade with care.
| Index Value: |
3,822.62 |
| Trade Time: |
5:05PM SGT |
| Change: |
 38.81 (1.03%) |
| Prev Close: |
3,783.81 |
| Open: |
3,793.88 |
| Day's Range: |
3,775.10 - 3,827.72 |
| 52wk Range: |
2,609.74 - 3,851.88 |
|
|
| Index Value: |
3,822.62 |
| Trade Time: |
5:05PM SGT |
| Change: |
38.81 (1.03%) |
| Prev Close: |
3,783.81 |
| Open: |
3,793.88 |
| Day's Range: |
3,775.10 - 3,827.72 |
| 52wk Range: |
2,609.74 - 3,851.88 |
|
|
DOW open up strongly....STI follow....err...up by another +30 points to new high..
9:32am: U.S. markets rise on better-than-expected jobs report. (
more)
DOW is up on...., so Monday STI is also up on......, overall STI coming trading wk is +ve to new high and also on profit taking in btw.
9:10am: Jobs report shows September gains in line with forecasts, while earlier job loss wiped away; unemployment rate up to 4.7 percent. (more)
|
8:57am: In-line jobs report sends futures sharply higher and may lead to another rate cut by the central bank. ( more)
|
STI bottom up
, hit new high....
STI 3,825.55 Vol: 4,789.1 mln shr done.
| |
Some trading today has China listed stocks in SES lifted into +ve territories, some penny stocks has also benefited too, still after hitting a high. It STI index goes into profit taking...My tot say index will continue to test new high for this coming week.
|
| STI 3,822.62 38.81 (1.03%) |
 |
