We were seeing Asian market hitting resistance last week. I shall now take a quick look on Singapore Straits Time Index stock market trends now.
Let’s take a look at STI immediate support now!
After analysing the stock market trends of Dow Jones, Nasdaq and S&P indices. US market seems to be in the sideway market. But how about Asian markets? Where will it move and how’s the stock market trends here. Hong Kong and Singapore are two of the important stock markets here in Asia. I shall be looking at them here.
Let’s take a look at the Singapore STI and Hong Kong HSI now.
My last stock picks on Singapore stock market was Parkway and Yanlord. I have seen Singapore stock market has also going bearish today after the market condition seems to deteriorate in US.
I will not do a through analysis on each stock today as I am a bit tired. However, I will just post them here or your reference such that you can take a deeper look into the following stock picks of the day on Singapore stock market.
We have seen that the US Dow Jones market trends is heading downwards. S&P500 & Nasdaq is also having the same bearish pattern as well. The US down trends will definitely spill over to the Asian market soon.
I am looking at some stock picks on Singapore market today. I have found Parkway and Yanlord offering good reward/risk ratio.
After selecting a few stocks to monitor on New York Stock Exhange (Stock Picks Part 1 & Stock Picks Part 2), I am using the same screening method to look for stock picks on Singapore Exchange.
Let me just repeat my stock selection rule. These stocks are trading very near to the resistance level now and likely it will dive down again if the resistance holds.
If you have been following my posting earlier, the recent stock market crash on the Singapore Straits Time does not come in as a surprise to me. The reason is simple, there were many bearish signals we can observed using Technical Analysis way before the actual stock market crash.
STI started breaking the 200w MA support after ML take over and Lehman collapse in Sep, we also continue to see that STI broke the Fibonacci support one after another. The most recent one being the breaking the 61.8% Fibonacci support being extremely bearish signal.
Let’s examine it in detailed together!
Singapore Straits Time Index suffered a bad fall last week while the white house was negotiating the bail out deal with the congress. Finally, the good news came last Friday that the house of representatives had finally gave the green light to the bail out deal.
However, that much awaited good news did not manage to lift the markets. Conversely, it sent the market to a deep dive today across the regional and world markets.
Singapore Straits Time index suffer another round of big bad fall today. Let’s take a look at the STI charts! (Video Included)
We saw last week that Singapore STI hit the 20d MA resistance. It was trading lower and lower last week after hitting the 20d MA resistance. At first glance, we thought that the uncertainty and negotiation of the bail out plan between the White House and Congress was dragging the stock market down last week and we were waiting for some positive news to finalize the deal faster in order to give the market a boost.
Finally, It was annouced yesterday that white house and the congress has strike a deal and they are not submitting the bail out plan to the congress for voting. But the news did not appear to lift the market upwards, it was a bad fall again today.
STI formed a big dark candle today.
Where do you think the Singapore STI is heading to this week?
