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. :)

18/01

Just analyze some indices and counters.

 STI

IndoAgri

Dow Jones

S&P500

Bank of America (BAC)

Disclaimer applies!!

Analysis for Europe & US markets

US DJI has been resisted by the level of around 12285 and was not able to hold it well above that level.

Stochastic seems to be turning downwards.

Probability of DJI to come down further is high.

Support to take note will be around 11700.

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US S&P500 is forming a possible symmetrical triangle.

And it has been resisted by its 200MA.

Stochastic is showing signs of turning down.

The chances of S&P500 to come down is high.

Do look out for the breakdown of the lower trend-line support as massive selling may occur if it show break.

Support to look out for will be 100MA(around 1200 level) if selling were to occur.

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UK FTSE 100 currently is trading in range.

It is resisted by the 200MA and support by the 100MA.

Look to short at 5600 and long at 5338 levels.

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The Germany DAX is forming a possible symmetrical triangle.

Any breakup or breakdown out of the trend-line will determine the direction.

Chances of DAX breakdown is high given the uncertainty in the markets and DAX is showing a bearish divergence.

Do look closely cause DAX being the leader of EU will pull the other markets along with it.

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Personally I feel that the good news that has been coming out from US seems too good to be true.

Trade with care. :)