updating of current market status

If you can recall my early post on Oct 20, i said tt DOW is in Bearish rising wedge formation. And exactly on that day onwards it start to fall until now. And it was also follow by the major asia market index to be fall from their overbought situation. In another words our STI also cannot be avoided
Eventhough i am very much to prefer STI to break the stubbon 2745 level that time, however in my post dated 26 Oct, i still cautiously to choose a wait strategy. I have no confident that STI can run out of its danger stage that moment if others index are all having down turn sign. I was right that moment in my decision.
At least we have a better picture now than before and most of the indexes are in their down turn movement. So in the full process of playing with the equity market game, one learnt that the important of "PATIENT".
Will be continue to update u again should any big move is arised base on my TA study.

good day !

STI movement

My early post dated Oct 15 had mentioned that STI need time to firm up its next direction move. True enough from my opinion and we ready have waited for a week.
In fact if we look at DOW, NASDAQ or S&P, they are in down turn position. And even asia market index such as Hang Seng, Nikkei or Shanghai EX are in their overbought situation.
But somehow i hve feeling sti may want to react differently. Their strong resistance at 2745 and they want to break it. But before anything can be happened, my strategy still wait. I position that sti now still have not out of the danger stage yet espically other major index may go down move.

Cheers

Yanlord update

I am right on my TA of my post dated Oct 21 regarding Yanlord shall move uptrend. But i did not expect that it went up so quick as i though it may take time to achieve it next week. i believe the uptrend shall intact and their next target will be 2.7 first this time.

Cheers

yanlord move uptrend

Yanlord had break 2.4 & closed 2.43. The next strong resistant is 2.48 - 2.49. Once break it will continue to chanllange august highest 2.89 & it is achiveable.

Basically the indicators of MACD n RSI both show sign of return uptrend with a reasonable good vol. Furthermore the price shall also go beyond 50 days MA that is another plus point.

Cheers

Venture - Cup and Handle Pattern

In my early post dated Oct 13, i mentioned that the venture will challange 9.55. Once break out it will then test 10 again. Till now 3pm it has finally reach above 9.55.
From the chart above, it shows that if it continue to move uptrend at 10, then a nice cup and handle shall form. This pattern has started since last year august.

All the best, venture !!

DOW is in Bearish rising wedge formation

In my previous post dated Oct 15 i mentioned that DOW had not much room of uptrend.

As from the above chart we can see it forms the bearish rising wedge formation in 3 months time. This is somehow not a very good pattern we are expecting for.

What is Bearish rising wedge formation ?

First of all, a wedge formation is similar to a symmetrical triangle in appearance, in that they have converging trendlines that come together at an apex. However, wedges are distinguished by a noticeable slant, either to the upside or to the downside.
In our case of rising wedge is considered bearish.
So be alert in our local market that may cause big fall should Dow happened to be a trend reversal.
Cheers !

Market is back in active now !

As i had stated in my previous post dated Oct 13 that venture is in its uptrend move this few days and we set a target breakout at 9.55. Till yesterday it show to me everything is in order. We are almost touching the level....Keep it up venture !

As for sti, finally the long winded index has reached 2700 again. This is still not a good moment to celebrate the next up trend move yet. As i se we will still need a strong break out signal to push it up firmly. Orelse the pattern may turn into trible top and it is not good at all. My strategy is to be more patient this moment, i understand a wrong direction move can cause big trouble. Well lets patiently wait for another 1 to 2 days to confirm the trend.

In my early post dated Oct 10 i had stated dow will reach 10000 in few days time & it does happen.What next ? It may go up further but not much room already.

Cheers

Market Status

Dow seems to reach its current peak. The momentom indicators are showing sign of weakness since August.
As in local market, some blue chip such as Noble, Olam or venture still look healthy. Bank counters does'nt look attractive to me. Creative is still in weak vol so i am afraid downtrend may still intact.
Overall our local market still weak as they are many counters transacted in weak vol this period.

Venture

This counter is in its uptrend and was challanging 9.55. Once breakout, the next target shall be 10.

Dow Status

Dow when up yesterday. In short term next week they may continue its uptrend as the MACD still stay above 0 line. Due to the volume never move high, I target it at 10000 to achieve !