Author: Jay Chia - Your Financial Mentor

Daily Market Opinion for 4-Oct-2012

Daily Market Opinion for 4-Oct-2012 STI failed to test 3080 resistance level as concerns of the European issues and economic issues in China dampened the bullish mood. The opening of HK market did not help to lift up the trading sentiment after 2 days of holidays. STI traded flat yesterday while facing selling pressures during the day. STI opened slightly above 3080 level at 3082 but sellers came flooding into the market to push the price down. Despite positive opening by HSI, STI slide further into red to as low as 3065 during the mid day. Bullish buyers were...

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Daily Market Opinion for 3-Oct-2012

Daily Market Opinion for 3-Oct-2012 Yesterday, STI firmed up strongly yesterday after DJI showed recovery on the previous night. STI opened flat yesterday but buyers started to coming into the market gradually during the morning session. The upper gap resistance of 3066 was easily broken by the buying strength. The trading activity seems to be low during the mid day as there is lack of leads from the HK and China markets. European market opening helped to lift STI up further towards 3080 resistance level and nearly tested the resistance. Eventually, the gradual incline during the day helped STI...

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Daily Market Opinion for 2-Oct-2012

Daily Market Opinion for 2-Oct-2012 STI was down slightly yesterday after lacking of leads from HSI as HSI is closed for holidays till Tuesday. STI opened lower in reaction to DJI’s last Friday’s negative closing. Selling pressure continued for the morning trading session as traders were worried of the declining economic numbers in China. However, buyers started to support the market when STI comes close to 3040 level, pushing STI back above its opening price. Eventually, STI was able to close with only 2.48pts lower for the day. Last night, DJI recovered 77.98pts with bullish expectations. Can STI break...

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Straits times index ready for more upside movement

Straits times index ready for more upside movement STI started the week attempting to break the key resistance of 3080 level but failed to do so as the resistance stayed very strongly. Bearish sentiment starts to set in again after concerns of economic situation worsening. On Wednesday, STI dropped strongly after market reacted to the news of Temasek selling its stake in Singtel with the lowest price range of $3.20. As Singtel is one of the heavy weighted in STI, the market adjusted Singtel price directly to $3.20 which created a sharp drop in STI’s value. However, the drop...

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Daily Market Opinion for 28-Sep-2012

Daily Market Opinion for 28-Sep-2012 STI rebounded strongly yesterday after a strong gap down on the previous day. This could be due to the strong support at 3040 level or it could be due to the gap covering of the gap resistance between 3052 – 3066 levels. STI opened slightly lower and continued to test 3040 support level during the early session. When HSI opened positively, buyers started to flock into the market and push the prices up. Buying pressure was seen throughout the rest of the day which pushes STI as high as 3066 level before sellers coming...

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Daily Market Opinion for 27-Sep-2012

Daily Market Opinion for 27-Sep-2012 Yesterday, STI broke the indecisiveness streak and decided to trade on the bearish side yesterday. STI opened with a strong gap down in reaction to DJI previous night’s closing while weak manufacturing numbers were also reported by Singapore yesterday. This gap down opening caused STI to immediately test the 3040 support level and STI is now trading in the gap support range of 3033 – 3057 levels. There were some buying activities during the early trading session but it came to a halt during the lunch hours. STI remain stagnant for the rest of...

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Daily Market Opinion for 26-Sep-2012

Daily Market Opinion for 26-Sep-2012 Yet again, STI ended the day indecisively despite seeing it attempting to break 3080 resistance level during the day. STI opened flat despite DJI’s previous night’s closing. Buyers were seen entering the market strongly after the weak opening and it continued stay close to 3080 resistance level. However, whenever it reaches close to 3080 level, sellers will enter the market to push the prices down. This up and down action was repeated for a few times during the day but when the European market opens, the buyers stopped supporting the market. Eventually, sellers prevail...

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Daily Market Opinion for 25-Sep-2012

Daily Market Opinion for 25-Sep-2012 STI attempted to retrace yesterday again but it refused to enter the gap support zone between 3033 – 3057 levels. STI opened with a slight gap down in reaction to US market’s weak closing on last Friday. There were attempts to rebound during the day but they faced sellers whom are eager to let go of their positions. The selling pressure was strong during the day and it caused STI to hit as low as 3054 level before it started to rebound within the day. Positive opening in the European market helped to lift...

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Straits times index in consolidation mode for bigger movements

Straits times index in consolidation mode for bigger movements Last week, after the announcement of QE3 package by Fed government in US, STI was seen attempting to break 3080 resistance for multiple days but was unable to break its. Retracement was also seen for a couple of days but they failed to be a deep one. Trading interest seems to have lightened over the week as strength from the QE3 news started to die off. Many traders were hesitating on whether to take profit off the market as buyers were seen flocking in whenever there is a retracement in...

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Daily Market Opinion for 21-Sep-2012

Daily Market Opinion for 21-Sep-2012 Yesterday, STI gave up its previous day’s gain and ended lower. This could be a continuation of the expected retracement that was deemed to happen after testing 3080 resistance level. STI opened slightly lower despite DJI’s positive closing on the previous night. Selling pressure was seen throughout the day which gradually pushed STI lower which broke the past 2 day’s lower. Negative European market’s opening caused more selling pressure to the market before closing. Eventually, STI closed at 3062 level with 13.02pts lower. Last night, DJI refused to retrace and closed with 18.97pts higher....

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Daily Market Opinion for 20-Sep-2012

Daily Market Opinion for 20-Sep-2012 STI managed to recover slightly yesterday as it refuses to drop lower. The bullish strength mainly came from the bullish closing of DJI on the previous night, which helped STI to open positively. Sellers was seen in the early hours pushing STI to as low as 3068 level before buyers starts to enter the market. After lunch hours, STI was pushed to as high as 3085 level as regional market strengthen the positiveness in sentiment. However, STI’s closing was weakened by profit takers but it still managed to maintain its positiveness. STI ended at...

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Daily Market Opinion for 19-Sep-2012

Daily Market Opinion for 19-Sep-2012 Yesterday, STI failed to stay positive after DJI’s weak performance on the previous night. STI opened down slightly and started to slight further during the early trading session. STI tried to recover numerous times during the day and it continued to hit with selling pressure which prevented STI from recovering back to its previous day’s level. European market’s opening set the pace for STI’s closing which made STI to close lower decisively. STI ended at 3067 level with 10.74pts lower for the day. Last night, DJI opened negatively but it managed to recover back...

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QE3 announcement might have changed STI’s downtrend movement

QE3 announcement might have changed STI’s downtrend movement Last week, STI started the week struggling to rebound towards 3040 key resistance level, but STI managed to end the week with a strong bullish movement on Friday after US Fed introduced the QE3 package into the US economy. This announcement send STI flying during the opening to quickly break the key resistance level of 3040 which could have ended STI’s downside movement for the past 1 month. Bullish traders were confident that this introduction of QE3 package will benefit not only the US market, and also the local market. With...

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Daily Market Opinion for 14-Sep-2012

Daily Market Opinion for 14-Sep-2012 STI ended flat yesterday despite its attempts to trade lower yesterday. STI opened with a gap down as it lack of leads from the US market on the previous night. Selling pressure was seen in the morning session which causes STI to hit as low as 3013 level before it started to rebound after lunch hours. Buyers’ strength grew as they anticipated a strong opening in the European market while HSI started to trade positively. Eventually, STI managed to recover lost points and close with only 0.48pts higher. STI ended at 3030 level. Last...

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Daily Market Opinion for 13-Sep-2012

Daily Market Opinion for 13-Sep-2012 STI managed to break the 50ma line yesterday after a strong gap up opening. The gap resistance at 3033 – 3041 was tested yesterday but failed to 3040 resistance level. STI managed to hit as high as 3035 level during the early hours but did not sustain the bullishness. Sell pressure started to pile up before lunch which caused STI to 3021 level, closing the gap it had created during the opening. As the European market open with a positive note, STI was lifted back close to its opening price. Eventually, STI ended at...

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