US annouced some unemployment number last Friday, Federal Reserve Chairman Ben Bernanke said yesterday that a fiscal package could help revitalize the ailing U.S. economy and it is annouced today that retail sales fell twice as much as expected during December. Sound like all bad news and US market indeed is retreating its earlier gain.
While I was taking a rest from the stock market, I was also spending a little time to understand more about the Forex market. I was also testing some strategy using the EMA (Exponential Moving Average). To my surprise, the MA indicators seems to be working pretty well during my test today.
We saw last week that Dow Jones Industrial Average fell to new low and I was predicting that DJ will touch the 2002 low at 7,100. However, it did not touch exactly on 2002 low but it rebounded with a weekly gain to cheer for the Thanksgiving.
S&P and Nasdaq also have similar stock market trends. Where to you think the US stock market will head to next?
Let’s take a closer look at Dow Jones, S&P500 and Nasdaq now!
Hong Kong Hang Seng Index has been very volatile recently. Up and Down, Gapping here and there. Everytimes I look at Hang Seng chart, it gives me some phobia in this volatile stock market trends. However, volatility is not something to fear, but something to accept.
Ok, the global market was experiencing severe melt down last 2 weeks, including Hong Kong Hang Seng. I would like to post what are the early technical analysis signal that we can see on the Hong Kong Hang Seng before this global melt down happened.
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!
We have seen that the Dow Jones broke the 61.8% Fibonacci Support 2 days ago. The market seems to continue to dive, do you think the Fibonacci theory will hold true that the US markets can indeed continue falling down till the 2002/3 low.
Well, I do not know if that will be true but I will take caution in my trading if that turns out true.
I am looking at the S&P 500 index today and it has also broken the 61.8% Fibonacci support too. Let’s take a look at the S&P500 immediate support and resistance now!
US stock market has been declined since the falling of the 2 big financial giant – Lehman and Merrill Lynch. US Congress has finally approved and give the green light to the bail out plan.
However, the market had a big fall yesterday and it was once Dow Jones dived by 700 points. That’s an unbelievable fact, but it happened.
Let’s take a look how is the Dow Jones stock market trends using technical analysis!
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)
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