Author: Jay Chia - Your Financial Mentor

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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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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