Author: Jay Chia - Your Financial Mentor

Daily Market Opinion for 12-Sep-2012

Daily Market Opinion for 12-Sep-2012 STI continues to struggle with its upside again yesterday. The 50ma line continues to prevent STI from heading higher. During the opening, STI opened slightly higher and it managed to maintain its bullishness despite some selling pressure in the morning. The trading actions remain flat for nearly the whole day with several attempts to rebound higher after nearly testing the support at 3000 level. Positive closing of HSI and opening of European market helped STI to stay in the positive range before closing. Eventually, STI managed to close at 3016 level with 7.68pts higher...

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Daily Market Opinion for 11-Sep-2012

Daily Market Opinion for 11-Sep-2012 STI had a lacklustre trading day yesterday despite the positive sentiment on the ECB’s bond buying decision. STI opened slightly higher yesterday but the buying sentiment did not follow through. Buyers were struggling to push the prices higher during the early trading session. More selling pressure was seen after lunch hours as bargain hunters started to stay out of the market. Weak HSI closing and negative opening of European market further encouraged the selling strength. Eventually, STI closed at 3008 level with 2.98 pts down. Last night, DJI failed to maintain its bullish momentum...

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Rebound likely for Straits Times Index but Downtrend prevails

Rebound likely for Straits Times Index but Downtrend prevails Last week, the market started off flat as there were no fresh leads on the US QE3 after Fed chief’s speech on the previous week. Due to this reason, STI broke another support at 3000 level on Wednesday and fell down further. The fall was limited by 2980 level while the ECB announced bond buying package to help the banks in the Euro zone. This fresh news lifted STI back above to 3000 level as buyers look for bargains after the market downward movement for the past weeks. The ECB...

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Daily Market Opinion for 7-Sep-2012

Daily Market Opinion for 7-Sep-2012 STI managed to test 2980 support level yesterday after 4 consecutive days of drop. STI opened with a slight gap down and selling pressure starts to pile up during the early trading hours. This selling pressure causes STI to hit as low as 2977 level before it started to recover after lunch hours. Bargain hunting was seen when it tested 2980 and the buying pressure was expedite by the positive opening of the European market. Eventually, STI managed recover to its opening price but fails to close positively. STI closed with 6.64pts down at...

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Daily Market Opinion for 6-Sep-2012

Daily Market Opinion for 6-Sep-2012 STI continued to head lower yesterday as the bearish sentiment continues to press on. STI opened with a slight gap down during the opening in reaction to the bearish closing of DJI on the previous day. 3000 support level was quick to break during the early trading session and it headed towards the next support of 2980. STI went as low as 2986 level before it started to rebound during the last few hours of the day. Trading activity was healthier comparing to the previous day but most of the trades were selling actions....

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Daily Market Opinion for 5-Sep-2012

Daily Market Opinion for 5-Sep-2012 Yet again, STI failed to show bullish strength yesterday despite attempts to rebound. STI opened with a gap up but it is lacking of leads from DJI on the previous night. Buying strength was muted in the day as traders remain cautious on the long side which resulted in drop in prices during the day. Trading volume was also lacking which resulted in a day of little trading activities. Eventually, the selling strength prevails and caused STI to drop 5.67pts for the day. STI ended at 3011 level. Last night, DJI market opened after...

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Daily Market Opinion for 4-Sep-2012

Daily Market Opinion for 4-Sep-2012 Indecisiveness continues to plague the market again on the start of the week. STI opened slightly down but it was quick to recover quickly during the morning trade. The buying strength was gradual but lack of trading volume. The buying strength managed to push STI as high as 3028 level before selling pressure sets in. When the European market opened weak, traders were eager to exit the market in fear of more negative movements to happen. This resulted to STI’s negative closing for the day; STI closed at 3017 level with 8.24pts lower. Last...

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STI might have confirmed its downtrend formation.

STI might have confirmed its downtrend formation. Last week, the market started off with cautious start and market participants were undecided of the direction due to the upcoming Fed chief’s speech. Speculations were on the possible QE3 decision which made the market stayed above 3040 support during the early week. However, numerous reports weighted that the QE3 will be unlikely to be implemented shook the market on Thursday. STI gapped down strongly on Thursday and was quick to break the key support at 3040 level. STI hit as low as 3004 level before it started to rebound on Friday...

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Daily Market Opinion for 31-Aug-2012

Daily Market Opinion for 31-Aug-2012 After nearly 2 weeks of indecisiveness, STI have at last managed to trade with decisiveness yesterday. 3040 support level was broken immediately with a gap down as the US reported a gradual growth in their economy; Market participants whom are hoping for a QE3 decision tonight but the Fed chairman will unlikely to happen after this report. STI opened at 3031 level and it opened the flood gate of sellers. Many were eager to sell in the early trading session and selling pressure starts to subside during lunch hours. There was slight rebound after...

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Daily Market Opinion for 30-Aug-2012

Daily Market Opinion for 30-Aug-2012 Yesterday was another quiet day for STI as traders continues to be cautious. STI opened slightly higher during the day and did attempt to trade higher. However, buying strength was not sustainable as there are still sellers waiting above to sell. Reaching only as high as 3054 level, the sellers prevented the market from rising and instead forcing the price back to the opening level. Eventually, STI close with a mere 1.5pts higher at 3041 level. Last night, DJI also ended flat with only 4.49pts higher. How long will this sideways movement continue?  ...

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Daily Market Opinion for 29-Aug-2012

Daily Market Opinion for 29-Aug-2012 Cautious trading sentiment continues to plague the market as many were patiently waiting for the US Fed reserve’s chief speech on possible stimulus plan. STI opened with a slight gap down testing the support level of 3040 again. There were some attempts of rebounds seen during the day but it continues to face selling pressure. The trading volatility was light yesterday and the trading transactions were very thin yesterday. Eventually, in this quiet market, STI closed at 3040 level with 4.42pts down for the day. Last night, DJI failed to sustain its levels and...

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Daily Market Opinion for 28-Aug-2012

Daily Market Opinion for 28-Aug-2012 Yet again, STI ended with another flat day without clear direction. STI opened with a slight gap up yesterday but it failed to sustain its bullishness after HSI opened with a bearish note. The gains from the opening were returned and entered into the negative territory. The selling pressure was gradual as the trading activity was light throughout the day. STI remained above 3040 support level throughout the day without testing it. Eventually, STI closed at 3044 level with 6pts lower for the day. Last night, DJI closed with 33.30pts lower as it is...

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Sideways movement confirmed for STI

Sideways movement confirmed for STI Last week, STI experience a week of wild swings but it resulted in closing 11.62pts lower for the week. A mixture of positive and negative set of news was being reported over the week. Reports of introduction of QE3 funds are still being speculated during the week but the market did not react positively this time round. Various gap down actions was seen last week as there were numerous days that STI reacted to the strong negative closing by DJI on the previous nights.  Participant of the market seems to be very uncertain for...

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Daily Market Opinion for 24-Aug-2012

Daily Market Opinion for 24-Aug-2012 STI attempted to rebound yesterday after a strong bearish movement on the previous day. The rebound was sparked by speculations that US and China government will be planning to release QE3 to help their slowing economy. Hence, STI started the day with a slight gap up opening. For the whole morning session, STI continued its rebound and reached as high as 3071 level which broke the gap resistance between 3053 – 3060 levels. However, the buying effort was soon to subside as bearish traders came into the market to make sure the gap resistance...

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Daily Market Opinion for 23-Aug-2012

Daily Market Opinion for 23-Aug-2012 Yesterday, STI opens with a strong gap down after weak closing by DJI on the previous night. The gap down opening caused numerous traders to sell their positions as many feared further selling actions are yet to be seen. 3040 recent low level was tested and even broken during the first half of the day; reaching as low as 3032 level before bargain hunters set in again. Weak opening at HSI had elevated the bearishness during the morning session. Bargain hunters supported the market before the lunch hours which helped STI to climb above...

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