On 9 Mar, Singapore shares ended slightly higher as profit taking take place since investors remained cautious about the prospect of overall market situation. STI ended up 4.97 points, or 0.2%, at 2,839.54, its highest close since Jan. 21, with LOW VOL of 1.17 billion shares traded compared with 1.46 billion shares Monday. In the broader market, losers outnumbered gainers 225 to 186.
As I have mentioned few days ago that US market currently RALLY based on LOW VOL and my nightmare may have started to come true. Yesterday US market and Today STI are trading at very LOW VOL and in fact S & P 500 got a Doji (Indecisive) at the top of the rally. These could mean that the BUY UP strength has been exhausted and investors rather be at sideline than to support this RALLY. I would urge everyone to watch out for tonight US market to see if any reversal may happen.
Important resistance of S&P 500: 1150
Immediate Support of S&P 500: 1130
My sentiment: Buy up VOL seems to be exhausted therefore I will be at sideline for the time being. Prepare to take profit when market reversal.
Dou graduated from University of Glasgow (UK) with a Bachelor in Electronics & Electrical (Hons) in 2001. Since his specialist in studies are statistics and possibility, thus reading charts is quite entertaining to him after having done it for 1 year plus daily.
He primarily performs swing trading in STI (Short term to med term) using Technical analysis and fundamental news. Although he personally perform complicated analysis using Metastock software but prefers to show simple and straight forward information in stock analysis to his readers.
0 comments:
Post a Comment