Author: Jay Chia - Your Financial Mentor

Daily Market Opinion for 29-May-2013

Daily Market Opinion for 29-May-2013 STI had halted the 2 days drop yesterday as bargain hunters starts to enter the market. Without the lead from DJI, STI managed to open with a gap up which attracted buying confidence in the market. Selling pressure was seen at 3400 level during the morning session which push STI to as low as 3393 level. But the selling pressure ease off and bargain hunters start to take control of the market which helps STI to reach as high as 3410 level. However, before closing, STI tampered off its high a little and close...

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Daily Market Opinion for 28-May-2013

Daily Market Opinion for 28-May-2013 STI experienced a cautious day yesterday as market participants were fearful of what happened on last Thursday. It opened with a slight gap down as the Japan market was trading bearishly. So after HSI opened with a positive note, STI was able to recover and attempt its rebound. However, its rebound failed to materialise as the support turned resistance level at 3400 is preventing STI from getting higher. Selling pressure sets in again after lunchtime and this caused STI to hit as low as 3373 level. But bargain hunters entered the market again to...

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Panic selling across region after Bernanke’s speech and weak economic data.

Panic selling across region after Bernanke’s speech and weak economic data. It was a nervous week last week as market participants anticipated for Ben Bernanke’s speech on last Wednesday night to decide on their investment strategies. The opening for the week was flat on Monday but on Tuesday, rumours of the Fed chief might slowdown its bond buying might ease off started to surface. This sends some profit takers to exit the market on Tuesday. However, the market struck off this rumour and recovered on Wednesday with attempts to break a new high before Ben Bernanke’s speech. Hell started...

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Daily Market Opinion for 23-May-2013

Daily Market Opinion for 23-May-2013 STI managed to recover its previous day’s losses yesterday. This recovery shows signs of market gaining confidence despite the long awaited speech by Ben Bernanke last night. STI managed to open with a strong gap up which directly recovered the previous day’s losses. The bullish strength managed to push the market to as high as 3464 level before profit takers starts to set in again. The market was seen lacking of much volatility during the day but trading volume had started to improve yesterday. Eventually, STI managed to maintain its positive opening by closing...

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Daily Market Opinion for 22-May-2013

Daily Market Opinion for 22-May-2013 STI failed to keep its heads up yesterday and sinks lower as concerns of Bernanke’s speech looms the market. STI opened flat during the opening session but it failed to sustain the level. Sellers was quick to be seen during the morning session which pushed STI to as low as 3431 level. However, the support at 3430 level held well as buyers were waiting to support this level. Before lunch hours, STI rebound a little, of which it did not show much strength during the day. Trading activity was not buoyant during the mid...

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Daily Market Opinion for 21-May-2013

Daily Market Opinion for 21-May-2013 It was another indecisive day for STI yesterday. STI continues to struggle on its upside as market confidence remains cautious yesterday. STI opened with slight gap up and it struggled to maintain its bullish opening. It attempted to trade higher in the early session and reached as high as 3458 level but sellers entered the market to push it back down. The selling pressure was strong and it made STI to hit as low as 3443 level during the noon period before it started to hover back to its opening level. Trading activity was...

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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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