CollinSeow.com – Singapore Remisier Stocks Blog

The STI had a second test of the 2,785 level yesterday after the finding support at 2,770. Being the second test of 2,785, selling there is likely to be weaker and we might see a push through 2,785 today towards the 2,795 to 2,800 resistance region. Support remains at 2,770.

It has been broken 50MA, means it may time to go into market slowly for Long Term Trade.

Look at STRAITS TIMES INDEX – Part 5
Resource more,Click Here!

Straits Times Index continued to lose ground as with the other major indices while depreciating by 2.3% for the week. It has broken trend-line, 20MA, 50MA and 100MA. Also broken support 2700. If we draw fibo, 50% retrench be the support level. This be key support on 2650. Read the rest of this entry »

Continue to advocate selling on any rebounds. While our forecasts for the Straits Times Index to decline for the week were met as it dropped by 2.6%, the magnitude of the downtrend was greater than what we had anticipated as the STI broke below our previous support level at 2,743 to hit a low of 2,706. Read the rest of this entry »

Asian stock markets were broadly higher following a modest rise on Wall Street, with the U.S. Federal Reserve’s more upbeat assessment of the economy adding some support. But it may go down again after touch 50MA. Support level is on the 2650. This is just correction on the market, it is not reversal pattern. I would like to watch until hit the support.

Look at my previous post on the STRAITS TIMES INDEX – Part 1 and STRAITS TIMES INDEX – Part 2

China implemented a planned increase in required reserves for some banks on Tuesday, 26 Jan 2010,  sparking heavy selling of Asian stocks that underscored how sensitive global investors are becoming to Beijing’s tightening of monetary policy.
Asian stocks fell Tuesday, with Singapore stocks tumbling 2.5 percent, as fears of further clampdowns on lending in China and a U.S. plan to freeze domestic spending sparked worries about the outlook for global growth.

As my post last week 22 January 2010 <click here> concerning STI is weakening, yesterday it has broken 100MA and today still stay around there, seem like no clear direction where it goes. I would prefer stay away from the market for time being.