Author: Jay Chia - Your Financial Mentor

Support found but range trade momentum continues in Straits Times Index.

Support found but range trade momentum continues in Straits Times Index. Last week, STI managed to retrace gradually and tested its support level at 3280. This support level held well and attempts of rebounding action as seen. On Monday, STI was first seen retracing further to test 3280 level. It was just merely a few points away from the support level before it started to rebound away from the level again on the next day. However, Tuesday’s rebound did not sustain and the gains were lost on Wednesday. Wednesday’s bearish action had lead STI to test 3280 level and...

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Daily Market Opinion for 12-Apr-2013

Daily Market Opinion for 12-Apr-2013 STI managed to confirm its rebound yesterday as confidence started to seep back into the market. In reaction to DJI’s positive closing, STI managed to open higher and above 3300 level. There is momentary selling in the early trading hours but buyers started to enter the market to push the price higher. This buying momentum carried on close till lunch hours and it started to ease off. Profit taking actions started to appear after lunch hours while the European market prepares to open. However, STI still managed to maintain its bullishness by trading above...

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Daily Market Opinion for 11-Apr-2013

Daily Market Opinion for 11-Apr-2013 STI did not attempt to head higher yesterday but instead, it attempted to retrace yesterday instead. It opened flat despite positive opening by DJI on the previous night. The early trading session showed some enthusiastic buyers entering the market to push STI to as high as 3301 level before a stronger force of sellers entered the market. STI entered the negative territory before HSI opening but when HSI open with a positive note, STI recovered back to its opening level. However, the sellers were stubborn and pushed STI back into the negative region again....

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Daily Market Opinion for 10-Apr-2013

Daily Market Opinion for 10-Apr-2013 STI exceeded the bearish expectation and rebounded firmly yesterday as positive economic data from both US and China side. Due to positive closing by DJI on the previous night, STI opened with a positive opening. Buyers slowly entered the market but stronger buying strength appeared when the HSI opened with a positive note. The buying strength stopped before lunch and managed to reach as high as 3308 level before the market enters a plateau. Trading activity was then seen to be low during this period. More trading activities only happened after the European market...

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Daily Market Opinion for 09-Apr-2013

Daily Market Opinion for 09-Apr-2013 STI started the week with further retracement action as concerns on North Korea threat and the outbreak of new bird flu strain shook the market. STI opened slightly down and was greeted with more sellers. This pushed STI to as low as 3288 level before bargain hunters starts to enter the market. This helped STI to recover back to its opening level but it was not enough to counter the selling pressure. Another flow of sellers entered the market during the lunch hours which caused STI to remain on the bearish side. Eventually, STI...

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North Korea threats sent jitters to Straits Times Index

North Korea threats sent jitters to Straits Times Index Last week, STI failed to stay above 3315 level as fresh concerns shaken the market confidence. The threats from North Korean drew concerns that it will impact Asian markets if the war breaks out. Market participants decided to take the cautious approach and took profits off the bullish market. The week started flat as it faced resistance at 3315 level. On Tuesday, STI managed to break 3315 resistance slightly but it was not convincing enough. It struggled to trade higher on the next day but it failed to maintain above...

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Daily Market Opinion for 05-Apr-2013

Daily Market Opinion for 05-Apr-2013 STI struggled to stay bullish yesterday after an indecisive trading session yesterday. STI experienced a weak opening in reaction to the weak closing by DJI on the previous night. There was some attempts to rebound above 3315 level during the early trading session but it flutter off after sellers entered the market. Before lunch hours, STI struggled to stay close to 3315 level. And before market closes, further selling pressure was seen which caused STI to close at 3307 level, with 13.97pts lower. Last night, DJI managed to reverse its bearish state and close...

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Daily Market Opinion for 04-Apr-2013

Daily Market Opinion for 04-Apr-2013 STI managed to stay composed and stayed above 3315 level yesterday. The day started with a bullish start but it faces a flock of sellers making use of the bullish opportunity to sell into strength. This caused STI to slide lower during the morning session to as low as 3311 level before bargain hunters enter the market to support the prices. During the noon time, STI was able to recover back to its opening levels and attempted to reach as high as 3331 level before easing off again. Cautious European market opening had caused...

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Daily Market Opinion for 03-Apr-2013

Daily Market Opinion for 03-Apr-2013 STI had a bullish day yesterday despite the threat of retracement actions. It started off with a weak opening in reaction with the lacking of leads from the US market. However, confidence started to build up as buyers started to enter the market again. STI managed to recover above previous day’s closing price before lunch hours but it faces selling pressure at 3315 level as it approaches it. Positive opening from the European market had encouraged buyers to stay confident which caused STI to be able to break 3315 level marginally. Eventually, during the...

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Daily Market Opinion for 02-Apr-2013

Daily Market Opinion for 02-Apr-2013 STI started the 2nd quarter of the year with a muted sentiment after the Easter holiday. The opening was slightly higher but there was lacking of catalyst for traders to enter the market. Some buying strength was seen in the morning session which helped to push STI to test 3315 level again. However, the bullish momentum failed to sustain as there was lack of participation. Market started to turn again during lunch hours as sellers progressively entered the market. Again, there was lack of participation and STI did not drop drastically. Hence, STI hovered...

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Cyprus bailout brought confidence back to Straits Times Index

Cyprus bailout brought confidence back to Straits Times Index Last week was the end of the 1st quarter of the year and it turns out to be a short week due to Good Friday holiday. Despite the short week and long weekend, STI manages to trade bullishly for the week and ends close to high of the past month. The bailout of Cyprus banks turned out find despite panics from the public when the bank reopens.  The week started with STI facing resistance at 3280 level which it had trouble breaking it. However, with bullish support from the US...

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Daily Market Opinion for 28-Mar-2013

Daily Market Opinion for 28-Mar-2013 The bullish sentiment continued in STI yesterday as cautiousness in the market participants started to ease off. The opening was flat but buyers gradually entered the market to push STI higher as confidence starts to rise. Despite negative movements from the regional markets, STI ignored the regional and continues to head higher yesterday. There was some resistance during the day but buyers were able to overcome them and maintain the bullish vibe. With further positiveness from the European market, STI was able to stay high and close at 3313 level with 24.5pts higher. Last...

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Daily Market Opinion for 27-Mar-2013

Daily Market Opinion for 27-Mar-2013 STI had a buoyant day yesterday as the fear on Cyprus starts to ease off after market participants digest the bailout news. STI managed to break its 3280 resistance level which it had failed to break it for the past few days. Despite a flat start in the opening session, buyers cautiously entered the market and slowly pushed the price higher during the morning session. The buying momentum came to a rest before the lunch hours as it flirts around 3280 level. With anticipation of the bullish opening of the European market, STI managed...

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Daily Market Opinion for 23-Mar-2013

Daily Market Opinion for 23-Mar-2013 STI started the week by attempting to trade higher. With anticipation of the successful bailout of Cyprus, the market however, faces tough resistance from the 20ma line and 3280 level. Trading activity was also very light during the day as market participants continue to stay cautious. The opening started with a gap up as participants were positive about the Cyprus bailout outcome. The buying strength helped to push STI to as high as 3278 level before it started to lose steam. After further details of the Cyprus bailout finalise, STI started to slide lower...

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Indecisiveness continue despite Cyprus bailout news

Indecisiveness continue despite Cyprus bailout news Last week, Cyprus bailout news sends a shockwave to the market. Straits Times Index was seen heading lower last week as the market digested the bad news. However, the bad news was not as bad as it though. Strong selling pressure was only seen on the first day of the week and rebound action was immediately seen on the next day. Another wave of selling pressure happened on Wednesday but the losses were being erased by the rebound on the next day. There is definitely indecisiveness in the market last week despite experiencing...

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