After blogging for a while, I wish I could have more than 24 hours a day such that I can analyse the market more and post more to share here....
To be successful in stock market trading, I believe we need to constantly practice our skill and technique. “Practice...
I like Dr Stephen Covey’s book “7 Habits of Highly Effective People ” and I was discussing with some friends...
I saw Doji formation on Dow Jones last week, plus the 200d MA resistance, that was the first bearish signal for me that market correction is coming. 4 -5 trading days has passed and we are still seeing the Doji like formation almost everyday.
This shows that the market is still very undecisive now. It might be a tug of war between the bull and the bear this week.
I saw that Singapore STI broke the upward trendline 2 days ago. However, STI was still trading in the pennant range now. It is a tug of war between bull and bear now. There is a likelihood to break up or down at the pennant.
While we saw that Singapore STI broke the upward trendline which look like a bearish signal to us. Hong Kong Hang Seng Index (HSI) is still trading in the upward bullish channel.
Remember to keep a look out on Hong Kong HSI in the next 2 days for confirmation signal if you are trading on Hong Kong stock exchange.
My last post on 31 May showed that Singapore Straits Time Index (STI) enjoyed a bull run so far. STI upward bull run was cooled off last week with a pennant like consolidation pattern. Finally, STI dived 2.61% downward and the upward trendline was broken today.
I am sure many of you have heard about Japanese candlestick. I am now learning to pick up more knowledge in this area. Instead of reading a book, I choose another learning method, I am watching a video listening to the expert explaining about candlestick on a video.
I was looking at Dow Jones hitting the 200d moving average (MA) resistance. Indeed, the index was stopped right at the 200d MA resistance and a doji was formed. This suggests Bearish Correction is Coming!
Apple has scheduled to make some big announcement next week. Maybe some update on the next generation iPhone, or maybe some update to the possible netbook, or its Mac OS Snow Leopard.
At this junction, let’s look at the analysis of Apple now!
I posted yesterday Dow Jones will be resisted by the 200d MA. Indeed, you can see that the high of Dow Jones hit on the 200d MA and closed lower. Again, this demonstrate the power of technical analysis as it helped us to know where is the possible ceiling to take profit.
I saw Doji formation on Dow Jones last week, plus the 200d MA resistance, that was the first bearish signal for me that market correction is coming. 4 -5 trading days has passed and we are still seeing the Doji like formation almost everyday.
This shows that the market is still very undecisive now. It might be a tug of war between the bull and the bear this week.
I saw that Singapore STI broke the upward trendline 2 days ago. However, STI was still trading in the pennant range now. It is a tug of war between bull and bear now. There is a likelihood to break up or down at the pennant.
While we saw that Singapore STI broke the upward trendline which look like a bearish signal to us. Hong Kong Hang Seng Index (HSI) is still trading in the upward bullish channel.
Remember to keep a look out on Hong Kong HSI in the next 2 days for confirmation signal if you are trading on Hong Kong stock exchange.
As I saw Dow Jones and Straits Time Index plunging , I did a scan on the regional index as well. I am surprised to see the Kuala Lumpur Composite Index formed a white candle instead despite the bad market condition worldwide.
Looking closely, KLCI is now trading below all the major moving averages. I also [...]
As I continued to learn more and more, I tried to perform scanning using my candlestick rules on World indexes. I noticed a bullish engulfing formation on Australia All Ordinaries Index today. So coincidence that I found the index is sitting near the support line which is the previous low.
Candlestick like bullish engulfing is very [...]
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