Author: Jay Chia - Your Financial Mentor

Straits Times Index in consolidation mode but upside still prevails.

Straits Times Index in consolidation mode but upside still prevails. STI’s gains were gradual last week as market participants start to get cautious as the price got higher. The week started off with bearishness as market participants were expecting the market to retrace after breaking its resistance level of 3430. However, the resistance turn support of 3430 level held well and preventing STI from going into a deeper retracement. There were multiple attempts by STI to have a deeper retracement but it continued to trade higher instead. There were tussles between the bulls and bearish everyday which make the...

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Daily Market Opinion for 17-May-2013

Daily Market Opinion for 17-May-2013 STI experienced another day of inching up in a dull market sentiment. STI opened with a gap up opening as it reacted to the bullish closing by DJI. It soon met with selling pressure as it opened higher than the recent high. The selling pressure force STI to hit as low as 3437 level before it started to attract buyers to buy on bargain. The market was volatile during the day as it swings between the high and low. Eventually, STI managed to maintain its positive figure and close with 10.75pts higher. STI closed...

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Daily Market Opinion for 16-May-2013

Daily Market Opinion for 16-May-2013 STI continues to trade in a mixed session yesterday despite being able to inch higher. The morning started with a gap up opening which STI attempted to sustain in the early hours. However, sellers were being spotted selling into strength which prevented STI to go higher than 3451 level. Sellers dominated the market during the afternoon period which made STI hit as low as 3435 level before buyers starts to set in to support the support level of 3430. Eventually, STI closed lower than its opening and ended at 3441 level. STI only managed...

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Daily Market Opinion for 15-May-2013

Daily Market Opinion for 15-May-2013 STI was seen trading as a mixed day yesterday. STI managed to open with a slight gap up in the morning and attempted to trade higher. It hit as high as 3445 level before profit takers starts to enter the market to sell on strength. This selling wave causes STI to briefly hit a low of 3425 level before recovering again. For the whole day, the exchange between the profit takers and buyers caused a lot of indecisiveness in the market. Eventually, STI did not manage to close at its opening level; it closes...

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Daily Market Opinion for 14-May-2013

Daily Market Opinion for 14-May-2013 STI started the week with a slight retracement after rallying for the whole of last week. STI failed to open on the positive side during the opening but it attempted to trade in the positive region in the early trade. There were multiple swings to rebound during the day but many attempts of rebound failed to materialise. Profit takers were around to make use of the bullishness to sell into the strength and thus, preventing STI to trade in the positive region. Before the market closing hours, STI faced further selling pressure that pushes...

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Straits Times Index’s bullish sentiment will likely to be sustainable

Straits Times Index’s bullish sentiment will likely to be sustainable STI experience another week of bullish streak as positive sentiments in the market continue to build up during the week. Buyers were weary during the start of the week as  STI did not managed to break the psychological resistance level of 3400 on the previous week. There was no catalyst to encourage the breakout of the psychological level and the market lay flat for the first 2 days. However, on Wednesday, there was a flood of fresh funds into the market to push it above 3400 psychological level. Market...

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Daily Market Opinion for 10-May-2013

Daily Market Opinion for 10-May-2013 STI continue to head a higher level yesterday despite regional markets in the sea of red. The positiveness started during the market opening where gap up occurs. This bullish opening had helped to attract more buyers to enter the market during the early morning session to propel STI towards its resistance of 3430 level. However, when HSI opens with a negative note, some selling actions did happen but it was not enough to go against the strong bullish momentum. Buyers make used of the weakness in the morning to enter the market again to...

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Daily Market Opinion for 09-May-2013

Daily Market Opinion for 09-May-2013 STI created a new high yesterday by breaking the recent high of 3405 level. The day started with a bullish gap up which was being sustained for the whole day. Buyers started to stream into the market in hoping to ride on the current bullish wave in the market, thus, pushing STI higher during the early morning session. This bullish strength was being sustained till the afternoon session and it hit as high as 3423 level before profit takers starts to stream in. The last hour of the day was flooded by eager profit...

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Daily Market Opinion for 08-May-2013

Daily Market Opinion for 08-May-2013 STI faced another day of desire to trade higher but failed to do well. STI started the day with slightly higher opening as it reacted to DJI’s flat market closing. There were attempts to trade higher during the morning session but it was soon being tampered off by the sellers during the lunch session. STI reached as high as 3397 level where selling pressure starts to set in. The afternoon session was seen to be a profit taking session where weak holders started to exit the market in fear of further retracement is to...

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Daily Market Opinion for 07-May-2013

Daily Market Opinion for 07-May-2013 STI had a bullish start for the week yesterday. As noted yesterday, a bullish start will mean that STI will be able to sustain its bullish run before a retracement can happen. The bullishness was due to the positive closing by DJI one last Friday.  This boosted the confidence in the market. Strong performance from the regional market also helped STI to maintain above 3370 level. Around noontime, STI managed to hit as high as 3392 level before profit taking actions starts to set in. Eventually, STI did not show much difference from the...

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Straits Times Index boosted by good 1st quarter earnings

Straits Times Index boosted by good 1st quarter earnings STI continued to charge forward last week as market confidence level continues to boom due to positive 1st quarter results from the banking industry. The traditional “Sell in May and Go away” myth did not materialise after the month of May started with a bang. Although it was a short week, STI still managed to break its resistance of 3370 level on Thursday. There was an initial struggle to break this resistance on last Tuesday, but the strong performance from the banks pushed STI to greater heights; reaching as high...

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Daily Market Opinion for 03-May-2013

Daily Market Opinion for 03-May-2013 STI burst upwards like a rocket yesterday after speculations on the earnings announcement of Dbs, Uob and Genting Sp. The opening started with a gap up yesterday that retested the resistance at 3370 level. During the mid of morning session, STI started to trade higher than 3370 resistance level despite regional market trading in the negative region. Buying interest started to enter into both Dbs and Genting share which lifted STI up. Very soon STI was able to stay above 3370 level and continues to head higher towards 3400 level. At the end of...

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Daily Market Opinion for 02-May-2013

Daily Market Opinion for 02-May-2013 STI inched higher on Tuesday as it prepared itself for Labour Day holiday on Wednesday. STI opened with a gap up action in reaction to positive action by DJI in its previous night. There were attempts to trade higher and it faces selling pressure at the high of 3383 level. The opening failed to sustain during the day and more sellers started to enter the market with concerns on the uncertainty over the Labour Day holiday. Prices started to creep back to its previous day’s closing and hit as low as 3365 level. STI...

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Daily Market Opinion for 30-Apr-2013

Daily Market Opinion for 30-Apr-2013 STI continued to trade higher yesterday despite muted market actions yesterday. The China and Japan market were closed yesterday and hence, STI was lacking of guidance from these 2 markets. The opening of STI showed reluctance to trade higher as there was lack of direction from DJI’s flat closing on the previous day. The trading activities were muted in the morning trade while it attempted to trade into negative region during noontime. Buyers were still seen coming into the market whenever there is selling pressure. During the afternoon trading period, buyers overwhelmed the sellers...

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Straits Times Index in 5 years high

Straits Times Index in 5 years high Last week, STI charged forward to hit a 5 years high as market confidence strengthens despite a string of events of concerns. The week started off bullishly as it attempts to test its immediate resistance of 3315 level while selling pressure was being seen during the day itself. The next day, drastic selling pressure was seen throughout the day as participants experiences market panic. However, it was easier being put off on Wednesday as there is a sudden reversal of market confidence. 3315 resistance level was then easily broken and STI starts...

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