I am back!

Hello everyone! Back from my trip. It’s been great and I’m all hyped up to go!

A quick check on the STI, closing in the red towards the close of the week. Chart formation is still in play though, with the higher lows formed and forming. Big caps have been consolidating and bollinger bands appear to be squeezing but not that squeezed yet. When it breaks out either on the upside or downside, it could very well determine if 2700 remains as resistance, or will it break right through it with gusto. The probability of it breaking on the upside is a tad higher from the last time I posted.

Couple stuff to look at. Ho Bee and StraitsAsia. Ho bee with a nice buy signal on Friday, and confirmation will come if it can proceed further from 1.46. StraitsAsia will be a breakout play once 2.30 breaches and we do have quite a fair bit of upside on that. We will see when that happens!

I have been eying on the STI.. cause the DJIA has sorta hit its first TP. The HSI has broken out too. Technically the STI should have followed suit but have been lagging behind. Sept is drawing to an end and window dressing should end shortly so by right, we should be seeing some form of a breakout. By left however, we could remain weak for a tad more.

There are quite a fair bit of data coming out for Singapore in this coming week. Without any solid movement, there is a good chance nothing has been priced in. If data is better than expected, we could see some movement. The same goes for data that’s worse than expected. That said, the whole idea of TA is… we don’t care bout data. We follow what the charts reveal. Data and results released, could simply be triggering factors/reasons for the next move.