STI will most likely trade a tab higher first before making its move….
Posted by admin in Forex Analysis, Futures Pick, Market Analysis, Stock Pick, Trivial of LifeGood Morning,
I am soccer fan.. not fanatic yet…. so let me share something that I observe from last night game…
Another upset in the World Cup shows that “The Ball is Round” Theory must be respected. Spain lost 0-1 to Switzerland! Before the game, almost every soccer journalist were confident that Spain will win the game and the only question is how many goals… but from the screams from the neighbouring HDB blocks around me , clearly spelt the disappointment of the soccer fans who followed or bet on this game. In all honesty, I would have bet on Spain to win too but I ‘chickened out’ as I think the latter will go all out defending against the Spaniards. I sincerely hope that the big time punters (unlike me who bet $10-20) have not lost too much…
The Morale of the Story? Nothing is 100% and being confident is good but over-confident will kill if the thing that you expected turns opposite direction. And Media Journalists although are labelled as experts.. may also get it wrong too… just like our stock market analysts… 
======================
Good Morning Everyone,
STI closed at 2846 yesterday, after hitting a high of 2857. Based on our TSC, today the Intersection Point is approximately around 2839. If the STI goes below this level, there should be some profit taking on this market. Our Indicator is indicating an Upside Sparrow Formation therefore if the Index actually gaped up later, will invite sellers in the market. So kindly take note.
The first support will be around 2821 area if the market do taper off.
The Upside potential is 2880.
My Take;
I expect the market to trade slightly higher first… then side way before dipping down towards the end.
I will be watching the NIKKEI for confirmation. If the Index goes below 10020, then I expect this market to fall below 10,000 mark by this week.
HK most likely will play catch up from what they missed and the support for today will be around 20105. The Resistance will be around 20200.
Using our TSC on the Euro; it shows that there is an amazing support on the Euro since it hit below the 1.19 level and rebounded. It have tested 1.2350 for 2 days in a row without much success and most likely it will be going into PROFIT-taking mode soon.
The Intersection Point will be around 1.2250-1.2260 for today. If the Euro breaks below this level, we could see it re-testing 1.20 level in the near term which will most likely be the catalyst to the selling in the equities market again.
Strategy:
With HK market opening later, most likely the market will be buying ahead of it first. If you want to go Long, reduce your normal trading qqty will be a good move so that you go for hit and run without getting caught.
For Short sellers, please be patient to build up this position. The market is definitely deem for some profit taking but at the moment,go slow as the general market are currently off the Bear Zone area (20%) therefore the sentiment have changed a bit. As good traders, we must know when to fire and when Not to fire, to conserve your ammo.
Wait for the support levels to break before entering.
Cheers!
Disclaimer applied
Kelvin Han
aka Trend Master
V3Go Originator
Entries (RSS)