The market have a little problem clearing the double top. While Dow transport did it, the rest have not follow through well enough.
For tomorrow and Thursday, the PIGS in the euro region are having some big announcement.Probably it will affect the market.
IF the market cant break out, then it will come down. If it break out, then it will rally further.
Tuesday, December 7, 2010
Sunday, December 5, 2010
Bond
This is long term bond. Bond have been top out, a H&S is also formed. Bond is going down. If bond is going down, this suggest that stocks is moving up.
Recap on Month of Nov and what coming up
On Oct 29th, I knew I was wrong about October prediction of a drop to set in.
However I post on my blog saying that a drop may come in. Then 8 Nov 2010, I said on my blog that a blast through happen and if it don’t stay it will correct. Indeed it dint continue to move up for the next 3 days and on the fourth day, which is the 12 Nov it came down. Subsequently on 15 Nov 2010 onwards , I did a few posting on the market may head down more.
The blast through on 8 Nov 2010 make the market wanting to create a higher high and I knew that a market cant move vertically upwards, so I was cautious. Then the next 3 days, the market slow, it move sideways and on the 12 Nov, it came down. This is when I confirm that a drop will come in.
Right now we see a nice consolidation; a up move will come probably next week. Now it is like shaking off some dust to make itself lighter to run a longer distance.
This is a comparison of US dollar index and Dow Jones Industries. I purposely made it in a line chart so that the difference can be seen clearly. The stock market really do move with the dollar Index. The dollar index goes high, the market drop. Observe carefully the relationship.
Next we have a comparison of the Dow Jones Transportation and the Dow Jones industries. Look at the King of king (Dow Transport), a H&S set in but it break out, and formed a new high. It totally break out of the high that is set in the beginning of Nov. Dow Jones Industries as a follower too have a H&S, and it will follow the leader.
Here we have a comparison of the Dow Jones Transportation and the S&P500. Look at the King of king (Dow Transport), a H&S set in but it break out, and formed a new high. It totally break out of the high that is set in the beginning of Nov. S&P500 like the Dow industries is a follower too have a H&S, and it will follow the leader.
Last of all, we have Dow Jones Industries and the STI. The STI have not shown a H&S yet,but there is a clear strong support level at 3120.So if it follow the US indices, up is the way to go.
However I post on my blog saying that a drop may come in. Then 8 Nov 2010, I said on my blog that a blast through happen and if it don’t stay it will correct. Indeed it dint continue to move up for the next 3 days and on the fourth day, which is the 12 Nov it came down. Subsequently on 15 Nov 2010 onwards , I did a few posting on the market may head down more.
The blast through on 8 Nov 2010 make the market wanting to create a higher high and I knew that a market cant move vertically upwards, so I was cautious. Then the next 3 days, the market slow, it move sideways and on the 12 Nov, it came down. This is when I confirm that a drop will come in.
Right now we see a nice consolidation; a up move will come probably next week. Now it is like shaking off some dust to make itself lighter to run a longer distance.
This is a comparison of US dollar index and Dow Jones Industries. I purposely made it in a line chart so that the difference can be seen clearly. The stock market really do move with the dollar Index. The dollar index goes high, the market drop. Observe carefully the relationship.
Next we have a comparison of the Dow Jones Transportation and the Dow Jones industries. Look at the King of king (Dow Transport), a H&S set in but it break out, and formed a new high. It totally break out of the high that is set in the beginning of Nov. Dow Jones Industries as a follower too have a H&S, and it will follow the leader.
Here we have a comparison of the Dow Jones Transportation and the S&P500. Look at the King of king (Dow Transport), a H&S set in but it break out, and formed a new high. It totally break out of the high that is set in the beginning of Nov. S&P500 like the Dow industries is a follower too have a H&S, and it will follow the leader.
Last of all, we have Dow Jones Industries and the STI. The STI have not shown a H&S yet,but there is a clear strong support level at 3120.So if it follow the US indices, up is the way to go.
Thursday, December 2, 2010
Market update
Hi
What a nice up run from the market. I expect some profit taking to set in today. Too much good things come together at the same time. So if it lose it drive to move up further, the market will come down a little. Remember that i said that the market will come down for the next few weeks. It wil turn around soon. Probably next week.
What a nice up run from the market. I expect some profit taking to set in today. Too much good things come together at the same time. So if it lose it drive to move up further, the market will come down a little. Remember that i said that the market will come down for the next few weeks. It wil turn around soon. Probably next week.
Thursday, November 25, 2010
Stocks
Despite the calling of the general trend to come down abit, i still buy stock due to it break out from technical buy point.
I am long on Indoagri ytd at 2.63 right now is trading at 2.71.
Another stock to watch is Genting. Can enter at 2.06.
I am long on Indoagri ytd at 2.63 right now is trading at 2.71.
Another stock to watch is Genting. Can enter at 2.06.
Tuesday, November 23, 2010
mkt update
The world market still have abit more to drop before a up move.
Crude oil
Using technical my technical analysis, crude oil is going into selling. The selling will continue till about next week.
Stock market
The stock market around the world too will be continue selling. My 5 weeks advance have show rebound and then drop again till early Dec.My technical analysis have also show continuous selling. Common Technical analysis have show weakness too. From these analysis, there maybe another 2% drop.
Nothing is ever 100%. This is just my own opinion.
Crude oil
Using technical my technical analysis, crude oil is going into selling. The selling will continue till about next week.
Stock market
The stock market around the world too will be continue selling. My 5 weeks advance have show rebound and then drop again till early Dec.My technical analysis have also show continuous selling. Common Technical analysis have show weakness too. From these analysis, there maybe another 2% drop.
Nothing is ever 100%. This is just my own opinion.
Nkorea and Skorea exchange artillery fire
http://www.channelnewsasia.com/stories/afp_asiapacific/view/1095109/1/.html
Nkorea and Skorea exchange artillery fire and killed two marines and injured 18 soldiers or civilians on a South Korean border island.
This has caused the regional market to have further bloodshed today. Same for the US market, the futures market of Dow, NASDAQ and S&P have went down 1% so far.
Nkorea and Skorea exchange artillery fire and killed two marines and injured 18 soldiers or civilians on a South Korean border island.
This has caused the regional market to have further bloodshed today. Same for the US market, the futures market of Dow, NASDAQ and S&P have went down 1% so far.
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