Author: Jay Chia - Your Financial Mentor

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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Daily Market Opinion for 22-Mar-2013

Daily Market Opinion for 22-Mar-2013 STI continues to be stubborn yesterday as it refuses to drop lower yesterday. The rebound achieved yesterday had managed to recover the previous day losses. The opening was flat but buying strength came in slowly as economic reports from China and Japan are showing positive signs. This caused the fears on Cyprus bailout to ease yesterday. The 50ma line at 3260 level was being breach again which left one wondering if this resistance line is holding well. The bullish strength had managed to push STI to as high as 3274 level before closing at...

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Daily Market Opinion for 21-Mar-2013

Daily Market Opinion for 21-Mar-2013 STI returned its gains of the previous day back yesterday. Fresh worries from the Cyprus bailout brought fear into the market again. STI opened with a gap down which demolishes all the previous day’s gain but the losses was short lived. Buyers started to flock in the market to push it back to previous day’s level till as high as 3265 level. However, buyers withdraw their buying strength during the pre-opening of the European market as fears starts to arise. Many took the bullish opportunity to sell into strength which leads STI to tumble...

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Daily Market Opinion for 20-Mar-2013

Daily Market Opinion for 20-Mar-2013 STI defied the regional market’s bearish sentiment yesterday by being able to rebound yesterday. STI opened with a gap up despite DJI’s negative closing on the previous night. Market participants seem to be supporting the support level of 3260 which is now holding STI up. The whole morning session seems to be on a buying spree as STI was pushed to as high as 3283 level before selling starts to set in during noontime. The buying pressure starts to cool off during the afternoon session and prices started to ease down. Eventually, STI close...

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Daily Market Opinion for 19-Mar-2013

Daily Market Opinion for 19-Mar-2013 The week started with a bang as STI gapped down strongly after news of Cyprus bailout being announced. This economic news sent shivers to the market as it reminded that the whole European economic situations are not out of the woods yet. This sent STI to open sharply lower at 3260 level which tested the support immediately. This support level was being broken many times during the day despite numerous attempts to rebound above it. 3260 level seems to have turned into a resistance level instead as STI was unable to sustain above it....

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Straits Times Index continues its sideways movement with indecisiveness

Straits Times Index continues its sideways movement with indecisiveness The Straits Times Index experienced a flat week last week as market participants were unsure on whether the previous weeks bullish could be sustainable. STI attempted to retrace on the first day of the week but the support at 3280 level held well. This support helped to lift STI back up to face its major resistance level at 3315 level the next day. However, the major resistance level is very firm and attracted sellers to push STI down. For the next 3 days of the week, sellers were seen capping...

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Daily Market Opinion for 15-Mar-2013

Daily Market Opinion for 15-Mar-2013 STI experienced another day of retracement yesterday as profit taking action starts to materialise after hitting the resistance at 3315 level. The day started flat as DJI did not show any strong bullish performance on the previous night. STI struggled to keep its head up during the morning session but selling pressure starts to coming in after lunch hours. 3280 support level was being tested and the buyers were fighting to hold this support level. In the end, STI close at 3279 level with 9.02pts lower. Last night, DJI continued its bullish charge by...

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Daily Market Opinion for 13-Mar-2013

Daily Market Opinion for 13-Mar-2013 STI managed to head higher yesterday despite struggling to surge for the past 2 sessions. Positiveness from the US market had helped to lift the sentiment of the market during the opening session. Buyers flood into the market after breaking the psychological resistance of 3300 level. This buying force caused STI to head towards 3315 resistance level and test it. However, this resistance level held well as sellers start to enter the market to force the price down during the afternoon trading session. Buying efforts was capped by the sellers and further selling pressure...

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