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)
I posted 2 days ago that I have been expecting a Dow Jones technical rebound , wow, you know what, it happened yesterday with a big white candle. Furthermore, Dow Jones was nicely supported on the 50% Fibonacci line as I was anticipating. Phew, that’s the power of technical analysis.
There are also some positive news [...]
I was expecting a market technical rebound last week as I saw that many indicators were oversold. However, that did not happen. The market turned very bearish after negative news broke out from mortgage financiers Fannie Mae and Freddie Mac.
Let’s examine the technical analysis of Dow Jones & S&P500 again!
I draw the fibonacci lines using [...]
I am a bit tired today after a long day of work. As usual, I will still take a glance on the index chart to have a feel on how the market is doing.
If you do follow my post earlier, I am bearish on the US market, but I will not open short position now. [...]
Beware beware on the Dow Jones stock market trend! If you did follow my earlier post that DJ broke the short term 61.8% fibonacci support , I warned that the Dow Jones can head down to the 100% support of previous low which is 11,732. It has indeed come down to this support level.
You should [...]
There was a long dark candle on Dow Jones closing yesterday. And there is some economic data released in US today. Jobless claims jump to highest level since late March . Unemployment rate jumped the biggest one-month gain in 22 years.
Luckily there is a good news that the retail sales rise much more than [...]
Following the gap down on Straits Time index 2 days ago, STI indeed plunging down further. STI finally broke the 3000 point psychological support level today when it opened this morning. Well, luckily, it started to recapture losing ground in the afternoon trading and ended with a white candle to close higher than 3000 [...]
