Straits Times Index
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Tuesday, March 31, 2009

USD/JPY 31/03/2009

UJ has descending broadening formation with a partial decline around 96. It has broken out above 98. It may continue moving upwards in the near term.

Saturday, March 28, 2009

ST Eng 28/03/2009 - Update

ST Eng had a nice breakout as mentioned in my earlier update here.
We may see a throwback before moving back up.

Thursday, March 19, 2009

USD/CHF 19/03/2009

USD/CHF broke out of the broadening channel, I have entered a short trade with a trailing stop running.

Tuesday, March 17, 2009

SGX 17/03/2009 - Possibilities

SGX has pulled back near the neck line lying at 4.82. There is resistance at 4.95, 5.16. A small correction will be good at this point before moving upwards again.

S&P 500 17/03/2009 - Update

As per my earlier post on S&P here, we have hit the resistance level around 772 as in the chart.
We might now see some retracement to the 23.6% Fibonacci level around 730. If that position is held, we may have another opportunity to go long.

Monday, March 16, 2009

ST Eng 16/03/2009

ST Eng has a partial decline on a broadening formation. If the price closes above the trendline consider buying with a stop below the trend line.

USD/JPY 16/03/2009

We have a rising wedge formation unfolding on UJ on hourly. Prices might bounce of the trendline below and test the trendline above. I will stop the longs if the price breaches the 200MA.

Sunday, March 15, 2009

GBP/JPY 15/03/2009

GJ has been trading in a tight range on 5 mins chart. Nice triangle formation too. We may see a break-out of the triangle as we near the apex.

Friday, March 13, 2009

Golden Agri 13/03/2009

We have a head and shoulders formation on Golden Agri. The price has broken down below the neck line and now retrace back to the neckline. If the pattern is successful, the price should retrace from here on.

Thursday, March 12, 2009

S&P 500 12/03/2009 - Possibilities

S&P 500 had a Head and Shoulders pattern formation with a steep neckline.
Possibilities: Currently we can see retracement happening as the prices move back towards the neckline. The measured target price is 772, there will be some resistance around 743 though.

This is just the possibility looking at the chart pattern. The ultimate formation could turn out to be completely different too.

DBS 12/03/2009 Possibilities

DBS had formed a descending triangle pattern since Jan 09. Price went down as the volume reduced. Near the apex it broke out downwards with high volume and almost hit near the projected triangle price of 6.3.

Possibilities: From the chart patterns statistics there is 64% possibility, we might see the price retrace back near the neck line before continuing downwards as indicated by arrows. Having said that, we dont trade based on possibilities, rather trade based on price action which will confirm possibilities.

Tuesday, March 10, 2009

NOL 10/03/2009

NOL had a perfect triangle formation and a breakout.
Today we have a high volume sell down due to the rights issue. If the price goes above todays low, we may see some small recovery. The risk remains very high though. I would suggest you to stay out if you are not the type who can cut loss easily.

Monday, March 9, 2009

SIA Eng 09/03/2009

SIA Eng looks interesting for a short term buy. Wide range body last candle with increased volume. Consider long above 1.58 with tight stops.

Sunday, March 8, 2009

STI 08/03/2009

STI chart. We are near the critical support of 1473. CCI is in the negative. Are we near a short term rebound?

Thursday, March 5, 2009

Citydev 05/03/2009

Falling wedge formation on Citydev. Consider long above 4.27 for short term trade. Stop at 4.2.
Over the longer term the trend is still downwards though.

Wednesday, March 4, 2009

USD/JPY 04/03/2009

Flag formation on UJ on hourly. Right now it is consolidating. A break above the recent high of 99.46 could trigger more upside. At the other end, if prices drop back 99.06 it could turn bearish.

Monday, March 2, 2009

USD/JPY 02/03/2009

UJ is under consolidation currently. We can see a triangle formation (blue). A break below 96.84 we could see more downside. We can also see a cross of the moving averages although they need to be declining for more downside.
However, if prices moving above the triangle will make it bullish again.