It was negative, first started from Japan, then HongKong. I am looking at short. In fact, short position has been established at 273.2.
Archives for June 2006
RE: SIMSCI 12-June-2006: No Trade
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It might be God’s call. My broker’s online trading platform is having some hiccup today. I do not like to trade when trading platform is unstable. This is unnecessary risk. Secondly, all patterns failed to form successfully and Nikkei and HangSeng remained flat most of time. Opportunity was found when RSI moving in overbought zone. I have given up the opportunity to establish Long position. I would call it a day. A boring day. No trade.
SIMSCI 12-June-2006: Awaiting setup
Sentiment for the first hour of trading is rather flat. There is no clear direction for the day. Nikkei and HangSeng are flat at the moment of writing this posting. From the development of chart now, there might be a chance of Long for intraday trading, though more information is needed to confirm this setup.
Chart Eye: STI daily chart : Ended 09-June-2006
This is trend analysis of daily chart of STI. Downtrend is still intact, though there was rebound at the end of last week, that did not help much in term of trend change. There is no sign of recovery. Directional analysis wise, there was a slight up turn in directional element, however, it is still below trigger line. Negative sentiment is still dominating.
No reason to consider any BUY for now.
Chart Eye: Sesdaq daily chart : Ended 09-June-2006
This is daily chart of Sesdaq. Nothing much has changed. There is no sign of recovery for small cap. Directional analysis shows a continuation of downward movement. Negative sentiment is still hanging in the air for now. Trend characteristics analysis shows intact downtrend with no sign of reversal.
I am not interested in any stocks trading for the time being.
Chart Eye: SIMSCI daily chart Snapshot: Ended 09-June-2006
Before a new week get started, it is necessary to have a view of Futures market movement retrospectively. It is beautiful, I would say. A downtrend channel has not been violated at all since it was formed weeks ago. From daily chart, short term time frame, I would say, ‘Downtrend is still intact’. There was a small rebound at the end of last week. I am not optimistic about this jump. Very interesting to know that, DJ sank into negative territory last friday, again. Yes, again. I am looking at area between 280 and 282.4 as resistance zone while immediate support level is around 270.7. This is to provide me a bigger picture during day trading.
Here is what my chart eyes see
Directional analysis:
Downtrend intact, possibility of some rebounds exists as it reaches extreme area.
Sentiment analysis:
Remain Negative. Bearish for the time being.
