China Power New Energy

TREND : Sideways
Weekly : Right chart shows reversal.Expect this week to retrace.
Daily :
0.695 strong resistance, confluence with 78.6% Fibo.
Support at 0.57 also confluence with 50% Fibo.
Candle today suggest to retrace shortly towards support or 20d MA (Red)

ICBC

Plan for long term investment. Lookout for entry near 20d MA, 4R1G.

Has USD reach the bottom ?

• Daily chart shows the recent lower low was not significant.Bullish divergence signal on RSI and MACD appeared and these suggested in near term could be heading sideways. RSI and stochastic suggested to be at reasonable entry.     
• Weekly charts MACD signal approaching bullish crossover soon.   
• Strategy for long term : Start accumulation, the downside risk is limited although may have to wait or signal to see the triger for next bull. 

Dow, S&P, STI and Hang Seng

Last few days, when Dow is up, STI is down, when I expected the Dow to retreat, last friday ended very bullish.
Signals are confusing ...? No more until this morning when I compare the indexes using line charts as shown below.

Time to starting preparing for the next fishing !

Tianjin

Weekly Trend : Consolidating
Indicators are bearishing, the pressure of breaking 0.91 is high!
Daily Trend : Consolidating
RSI and stochastics near over-sold, should watchout for rebound level shortly.
Double top formation suggest to be more caucious and wait for confirmation if  long.

Alibaba

Nov 17 -
Weekly trend : up
Trend is higher high and higher low.
Just broke resistance, supported by 20w MA.
Daily trend : up
Expect short term correction. RSI, stochastic pointing down.
Lookout for MA support to rebound.
Trading strategy : 4R1G, RSI rebound aroud 50% near MA.

Nov 20 -

• Higher low indicated that uptrend is intact. Possible support are 50d, 20d, 100d MA and trendline.
• 20d MA crossover 50d MA will signal the begining of next up trend!

Weekly : Engulfing expect retacement start next week!















Nov 24-

Perfect trendline, expect to rebound around 1900 !

Global Indexes - Direction for this week

This week started with bullish day. STI broke 2740 resistance ended at 2783 !
The key question is what will be the outlook for this week?
If we based on the past weekly records, every week when Dow ended with a black candle, Hang Seng and STI followed without fail.
If we look at the pattern of white and black candle formation, very likely the Dow will be a black this week. Hang Seng could be a white candle because the pattern seems to be 3 weeks white follow by black.
STI is 50-50 as usual without definate bearing.

Point to note : Dow last week broke resistance has shown the strength, this could be the cause for strong rally today.
My trading trading strategy  : Counters that I hold will be on hold. Refrain from new entry...bec. this week or next latest could be a pull back.

Global Indexes

Trend is up. Market just started correction.


All indexes, Dow, S&P and STI are beginning to enter the correction phase.










An only difference is S&P seems to be weaker among the three. Last cycle seems to be lower low and the high was almost similar to previous cycle at 1104. If the corrected fall below the previous low at 1032, watch-out for double top formation which could be the signal for reversal.

STI although showing higher high and higher low, there are bearish divergence to be caution in case the correction breaks 50d and 80d MA.

Bull is sleeping

Dow, S&P 500 were up marginally last night but Hang Seng and STI and reacted negatively today!

This reaction simply indicated that the Bull is still sleeping! We shall see tomorrow to confirm the correction.

Sentiment in this uncertain market movement, I am expecting friday to be another day for profit taking and clear stocks by fund manager before the weekend.

If this cycle is similar to previous, the correction could end around Nov 27 or Dec 4 latest. Shall wait for next opportunity start shopping. Meanwhile, taking a break !

Funny Animations

Market Sentiment Not firm ? Play Safe - STI

Intraday sentiment is uncertain. STI continue to rally in the morning following US but strong pullback in the later afternoon. Trading volume are still low, any slightest wind will cause the price to retrace back. Hence to test the market, I rather to select counters with strong uptrend. At least if the weather is changing, I can still stay loating without hefty cut!

Super catch : Dark horse !

Weekly and daily trends are bullish. 1st MA crossover 20w-50w on May 6 week. Pending 50w- 100w MA crossover to confirm! Waiting for History to repeat !!! Do take note of accumulation volume!

Tianjin

Strong bull and started to go sideways. Good to monitor at support 0.94 for next action.

SMRT, ZTE

SMRT

Defensive counter, trading on narrow band, sideways between 1.74 - 1.66. Support at 1.66 is strong and confluence with 50% Fibonachi.   Short term - expect to retrace down.

Weekly trend is bullish !If break resistance @ 46.36 would continue to charge upward.
Daily chart, broke 20d MA is retesting the 20d MA resistance. Doiji appeared last friday suspect to face some resistance at this level.(20d MA). 42.33 would be the target to observe before making the entry.

Dow gain 200 pts. last night!

Singapore market is going sideways for long while and Hang Seng weekly trend loosing strength with bearish MACD crossover recently. Dow mid-term momentum remains steady.
It is frustrating to see sudden search while waiting for entry. I am hesitant to enter specially on Friday morning when market open with gap-up, suspecting that profit taking could happen before end of the day! I hope I am right this time.
Emotion control is harder part to manage our trading strategy.

DOW - STI (Bottom fishing ?)

MACD Signal line above ctr. meaning the uptrend is intact.

Should 50 MA start to crossover 100w MA, the bull trend is confirmed. By then, weekly 4R1G will appear.

Comparing both chart seems to show that long term trend is up while short term retrace is happening. This  would be good opportunity to invest when it starts to rebound below 30% RSI.

C

• MACD below ctr. is bearish. Price broke 4.11 support and testing 3.8 support.  The long legged black candle suggested the price could contine to test the next support next few days.                                             PLAN: If break 3.8, incidentally also break the trendlin could meant heading for bigger down turn. Otherwise, 3.8 support confluence with the trendline and 100d MA is strong. Long when 4R1G and RSI shows rebound from 30%.