Author: Jay Chia - Your Financial Mentor

Daily Market Opinion for 14-Aug-2012

Daily Market Opinion for 14-Aug-2012 Yesterday, STI started the week with a positive note by closing 10.61pts higher. The bullish movement for the day started off with slight gap down. But the selling pressure was weak as it was quickly overcome by bargain hunters lurking in the market. Despite weak market sentiment in HSI, STI was able to ignore the bearishness and continued to trade higher. This bullish momentum during the day did not meet any strong selling pressure and this resulted STI to close at 3064 level with 10.61pts higher. Last night, DJI failed to maintain its bullishness...

Read More

STI is running the risk of uptrend reversal

STI is running the risk of uptrend reversal Again, STI experienced a strong start for the week but test 3080 resistance level on last Monday. The strong start comes with easing of economic tension but the bullishness was soon to ease off. STI failed to break 3080 despite its attempts for 2 days in a row. STI started to retrace before the national day holiday after China announced with economic data. This sparked another fear that the slowing economy of China might affect Asian economies; this lead STI to return 15pts of gains and close near the closing of...

Read More

Daily Market Opinion for 10-Aug-2012

Daily Market Opinion for 10-Aug-2012 On Wednesday, STI was seen retracing further as traders unload their position for the national day holiday. STI started flat during the opening and did attempt to climb higher but sellers were waiting there. Further selling started when HSI opened and participant of the market became concern of the weak economic data from China. Selling pressure was seen for the rest of the day while some short covering was seen before market closing. STI ended with 15.49pts down at 3052 level. For the past 2 nights, DJI was trading flat with 7.04pts up and...

Read More

Daily Market Opinion for 8-Aug-2012

Daily Market Opinion for 8-Aug-2012 STI attempted to break 3080 level again yesterday. STI opened with a slight gap up and surge above 3080 level during the early trading session. However, sellers were waiting for their chance to exit at this resistance level. STI went tumbling down after reaching as high as 3086 level. Strong selling pressure was seen after lunch hours causing STI to hit as low as 3066 before buyers started to stream in. However, before market closes, another wave of selling pressure caused STI to close at 3067 level. STI ended flat with merely 4.08pts lower....

Read More

Daily Market Opinion for 6-Aug-2012

Daily Market Opinion for 6-Aug-2012 STI form a year high yesterday after positive reports from the US & European markets. STI started with a strong gap up in the opening and attempted to trade higher. STI reached as high as 3086 level before sellers attempted to profit take. 3080 resistance level seems to be a strong resistance level which prevents STI from going higher. Before the market closing, more sellers came flooding into the market which caused STI to close at 3071 level eventually. STI was up 20.49pts for the day. Last night, DJI managed to close 21.34pts higher....

Read More

STI’s uptrend likely to continue but trend reversal risk is still possible.

STI’s uptrend likely to continue but trend reversal risk is still possible. Last week, STI faces bullish reaction in the market as fears of crisis subsided after speculations of stimulus is to be emplaced. This brought buyers to enter the market on Monday which lead STI to test 3030 major resistance. Despite a gap down start on Tuesday, the buyers still managed to push STI above 3030 level with strong volume. Such bullish movement have confirmed the breakout of the major resistance. For the last 5 days of the week, STI held well above 3030 level and this resistance...

Read More

Uncertainty and Volatility to persist in STI.

Uncertainty and Volatility to persist in STI. STI experienced a volatile week last week as economic news were affecting the market sentiment. First, news of Spain requiring a bailout package shook the market during the early week. This caused STI to open the week with 33pts lower and hitting as low as 2973 level. Despite expectations for STI hitting as low as 2950 level, STI refused to test that level during the week. This was partially due to the positive comments by both US and China leaders on the possibility of stimulus. Therefore, STI managed to recover from the...

Read More

Like us on Facebook

Follow us on Twitter