Author: Jay Chia - Your Financial Mentor

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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Daily Market Opinion for 26-Apr-2013

Daily Market Opinion for 26-Apr-2013 STI continued to propel higher yesterday despite weak opening yesterday. STI opened gapping down as some market participants made use of the bullish opportunity to sell into strength.  However, it seems to be a wrong choice for them as the market starts to recover after strong showing by the regional market. The breakout of HSI for a higher high had boost confidence in the local market that STI can have similar strength as HSI. STI gradually head higher during the day and manage to test its recent high of 3331 level. At the closing...

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Daily Market Opinion for 25-Apr-2013

Daily Market Opinion for 25-Apr-2013 STI made a new high yesterday after experiencing drastic volatility during the day. STI opened higher during opening but it faces selling pressure immediately during the early trading session. Selling pressure forced it to as low as 3279 level before buyers starts to enter the market. Positive strength of HSI helped STI to sustain its intraday bullish movement. Eventually, STI encountered the first resistance of 3315 level and managed to break it gradually. This created more confidence for the buyers which caused further buying strength happening before the market closes. Eventually, STI managed to...

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Daily Market Opinion for 24-Apr-2013

Daily Market Opinion for 24-Apr-2013 STI failed to trade higher yesterday as the market faced profit taking pressure. STI opened flat yesterday but it soon felt selling pressure entering the market during the early trading session. Previous day’s gains depleted slowly as the market started to react to the negative movements in HSI. This selling pressure caused STI to hit as low as 3279 level before buyers enter the market to support it. Some rebound actions were seen during the day but it is not enough to overcome the selling pressure. Eventually, the seller prevailed and STI closed with...

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Daily Market Opinion for 22-Apr-2013

Daily Market Opinion for 22-Apr-2013 STI started the week with positive note yesterday. Market confidence was seen coming back as commodities prices started to recover during the day. STI opened with a gap up movement which failed to sustain during the morning session. Sellers were trying to force STI back towards 3280 support level but their efforts were unfruitful; When STI hit as low as 3291 level, Buyers started to enter the market to sweep up the bargains around noon period. This positive continued throughout the rest of the day and lead STI to close at 3308 level. 14.87pts...

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Gold and Oil’s drop affected Straits Times Index’s sentiment

Gold and Oil’s drop affected Straits Times Index’s sentiment STI had a flat trading week last week as market participants experienced concerns in the sudden drop in Gold and Oil price. Gold plunged close to $200 in mere few days and this lead to speculations that fund managers might start to pull out from the equity market also. However, despite such concerns, STI still managed to hold itself very well last week. The start of the week was a bearish one as STI losses close to 10pts and tested 3280 support level. Further bearishness was seen on Tuesday where...

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Daily Market Opinion for 19-Apr-2013

Daily Market Opinion for 19-Apr-2013 STI managed to stay flat again despite a sea of red in the regional market. Weak export figures failed to dampen the mood also. STI opened with a slight higher but it started to head towards 3280 support level during the early session. However, it started to recover around noontime as buyers entered to support the market. Soon it started to hover in the positive territory again and refuse to trade lower despite regional market trading bearishly. Eventually, STI showed its resilience by closing at 3296 level with 4.91pts up for the day. Last...

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Daily Market Opinion for 18-Apr-2013

Daily Market Opinion for 18-Apr-2013 STI traded flat yesterday as weak Singapore export figures dampen the outlook of the economy. STI gapped up during its opening initially, but it struggled to trade higher as there were sellers on the upside. A high of 3301 level was reach before selling pressure sets in. Buyers seem to shun the market and the market started to creep down slowly. It soon went into the red territory during the mid day of trade, hitting as low as 3284 level before it started to recover during the closing. Eventually, STI close at 3291 level...

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Daily Market Opinion for 17-Apr-2013

Daily Market Opinion for 17-Apr-2013 The Boston bomb blast turns out not to be impacting on STI yesterday as market participant did not deem it as an event that will affect the market. The initial reaction was a gap down opening where participants were panicking. This panic caused selling pressure during the early trading session which made STI trade as low as 3264 level. But market started to rationalise where bargain hunters entered the market to lift it back up. At around lunch hours, STI managed to recover back to previous day’s level and stayed above 3280 level. Further...

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Daily Market Opinion for 16-Apr-2013

Daily Market Opinion for 16-Apr-2013 STI failed to keep its heads up yesterday as market participants were still in the state of cautiousness and they were unwilling to commit into long positions. The week opened with a slight gap down in reaction to last Friday’s weak DJI closing. There were attempts to rebound during the morning trading session but it encounter sellers waiting to exit the market at higher level. Eventually, the selling pressure builds up and caused STI to drop gradually during the day. 3280 support level was being tested and the support managed to hold. However, the...

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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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