Major Market Indices

DJI & SNP500

Both the Dow & SNP500 are similar patterns, therefore I have analyze both of them together.

Generally speaking, both indices are still on the mid to long term bull trend.
However, in the short term, there could be some selling pressure coming in. Especially on Friday, both indices got resisted by the 20-day SMA with significant volume. In addition, there was a last hour sell-off on the both the indices on Friday, which personally I believe it is not a bullish sign.

Going lower, the Dow will retest the previous low of around 14550 and SNP500 will retest the previous low of around 1560. We will have to look out whether the 100-day SMA will be able to hold both indices again. If both were to break their previous lows, watch out for the 38.2% Fibonacci retracement. Watch out for the 50% Fibonacci retracement region as well, but the probability of reaching there is not as high.

Hang Seng

The Hang Seng Index dropped very quickly over the last few weeks but managed to recover during the last week of June, mainly due to the Shanghai Stock Exchange.

Currently HSI is in a rebound phase from a very oversold region. Going forward, HSI is facing a series of resistance at around the 21000 level where a falling gap is seen along with the 38.2% Fibonacci retracement as well as the 20-day SMA. If the 21000 resistance level is broken, then next level to watch will be around 21500.

Nikkei 225

Nikkei fell sharply from the 16000 level and has been consolidating between 12500 to 13500 level.

On Friday, Nikkei managed to break the 13500 resistance and also break out of the symmetrical triangle. Nikkei looks ready to go higher but the 50-day SMA and the 38.2% Fibonacci retracement level will resisting Nikkei from going higher.

All in all, Nikkei is still bullish in the mid to long term, but whether it can break the 16000 level to form a new high is still a question mark.

Side note: Nikkei chart look similar to Apple chart in the past.  


Do note that all analysis are my personal views and opinions. If you would like to trade, please consult your authorized brokers and use all available analysis at your own discretion.

Good luck in the upcoming week in your trading. :)

Week 23/04 - 27/04

STI

STI still remain in the big range of 2905 - 3036.
In terms of weekly chart, rounding top is seen.
The market sentiment still remains bullish due to the earnings season as well as the dividend season.
Correction is expected to come soon.
Strong support to watch will be around 2870 (100MA, 200MA and Fibo 61.8% level)

HSI

HSI looks short-term bullish as of now - managed to close above the 78.6% Fibo as well as 50MA.
It moved higher after touching the upward sloping support trend line (Red line) & 200MA.
HSI also shown a golden cross of the 100MA & 200MA.
Any long positions please watch when it comes close to the purple sloping down resistance line.

Wilmar

Wilmar cut up the 20MA on Thurs but went back below the 20MA on Friday.
It previously managed to moved up from the Fibo 23.6% Price level 4.77. Also highlighted http://tradeforthebetterfuture.blogspot.com/2012/04/week-0904-1304.html previously.
If Wilmar is able to go above the 20MA on Mon & Tues, there could be some short-term bullishness.

FNN

F&N  remains overall bearish - looking at the all the Moving Averages.
It managed to be still supported by the purple trend line support.
Resistance to watch will be round number 7, which might be a strong resistance for F&N.

Swiber

Swiber has been dropping after the spike in Feb.
As of now, Swiber is being supported by the 100MA.
Watch Swiber at the 200MA, it could be a strong support.
However, if this level is compromised, then do cut.


Interra

Interra looks bullish currently due to the rising moving averages.
Interra seems to be resting after the recent spike.
In terms of Fibo projections, if its rally is possible to continue, expect it to travel to around 0.60.
The purple sloping trend line could be a support trend line, else watch for the 50MA.
However, I do not advise buying now. Wait for it to have some profit-taking towards the 20MA before attempting to punt on it.


BAC

BAC has been falling from the peak which I highlight few months back http://tradeforthebetterfuture.blogspot.com/2012/03/bank-of-america-bac-requested-by-gn.html
BAC currently has a sloping down resistance.(Purple line).

Reason why I post to short on Thursday night:
1) It touched the sloping down resistance
2) BAC was consolidating within the black candlestick formed on 13/04/12. It managed to breakup on open but seems to be a fake breakout (which means more bearish). For this I was on the minute chart.
I wanted to short at a higher price but it didn't managed to go higher after dropping from the top on Thurs.

As for now, BAC looks bearish still.
If BAC were to fall again on Monday, a 3 black crow candlestick formation will be seen.
So I won't advise to catch a falling knife.
Maybe the Fibo 61.8% level of 8.12 could support the fall


Tiongwoon

Tiongwoon seems to be have some profit taking after the strong spike with high vol.
On Friday, a long upper shadow is seen and it ended as a doji.
I would advise to enter Tiongwoon when the price and the 20MA is closer (maybe 0.29?).
If Tiongwoon is to break 0.27, I believe it won't be so bullish anymore.
I may show horse back cannon now. But on 09/04 I saw the sudden surge in volume and I know a big rally could be coming.
Conclusion: Watch Tiongwoon daily transactions volume. 10k and above is relatively high.


Small advise to all.
This year the market is expected to remain bullish.
Therefore, its alright to enter strong companies (eg, blue chips) at around its 200MA and HOLD.
Of course do expect that the 200MA might be broken for awhile before coming back.
All the best to all. :)
DISCLAIMER APPLIES HOR!! 

Week 02/04 - 06/04

Scroll to the bottom of this post for a crucial information. :)


STI

STI has been consolidating and trading within a range for the past 1 month plus.
STI is still well above the 20MA which means the market remains bullish.
Most likely if STI breaks below the 50MA, it will mean a change of trend.
For now, nothing much can be derived from the charts.


HSI

HSI could be moving in a channel with critical support of around 20200 levels to watch out.
It could also have a descending triangle pattern forming but its still too early to confirm this formation.
If HSI were to breakup/breakdown of the parallel channels, it could show its direction.


Yanlord

Yanlord recently bounced off its support of 1.24 which was a previous strong resistance.
Currently, Yanlord forming a descending triangle (watch red lines).
Yanlord also has a mid-term upward sloping trend line support (purple line), which is also close to the 1.24 level.
Conclusion will be that the level of 1.24 is very critical for Yanlord.


Cosco

Cosco has been resisted by its 200MA for 1 month plus.
Currently, a descending triangle is being formed in Cosco.
Support to watch out for will be around 1.12 level.
A bullish signal shown will be that its 50MA recently cut above its 200MA.


YangZiJiang

YZJ is consolidating around the 1.325 level which coincides with the 20MA.
YZJ has a good support at around 1.215 level.
As for now, nothing much can be derived from the charts except that the 50MA is running up to act as a support.


Hi-P

Last week I highlighted that Hi-P is facing major resistance at 1.04.
http://tradeforthebetterfuture.blogspot.com/2012/03/hi-p-stx-osv-requested-by-pk.html
True enough it was not able to break the resistance.
In terms of Fibo Projections, it has a resistance of 1.04 as well.
Currently, it could be supported at around 0.97 level.
My speculative view: If Hi-P is able to bounce of 0.97 support it has good potential to go to 1.095 level.
Disclaimer applies.


STX OSV

STX OSV is still consolidating within in a tight range as mentioned last week.
http://tradeforthebetterfuture.blogspot.com/2012/03/hi-p-stx-osv-requested-by-pk.html
STX OSV is supported by a upward sloping trend line (green line).
This counter remains bullish in the long-run.

CWT

CWT is currently consoliodating.
Levels to watch out will be 1.26 and 1.32 for either breakup/breakdown.

Something big is going to happen soon. WHY?
Watch those big caps - DBS, OCBC, UOB, Kepcorp, SGX, Sembmar, Sembcorp, CityDev, SIA.
They have unusual high vol on Friday.