Straits Times Index
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Wednesday, April 29, 2009

Potential inverse Head & Shoulders - 30/04/2009

China Milk: Cant find a better inverse H&S pattern. Triggers long at the break of neck line at 0.43. For confirmation of the pattern, it is advisable to wait until the neck line is breached.

Swiber: Same story. Triggers long at the break of neck line.

USD/JPY 29/04/2009

UJ 4Hr chart has remained in the downtrend black channel. If wave 4 as indicated is completed, we may soon see a down leg for wave 5. However, if the channel upper trend line is breached we may see price move further up.

Friday, April 24, 2009

USD/SGD 24/04/2009

USD/SGD: I can see Head and Shoulders pattern unfolding here. The neck line has already been breached today which means short entry has been triggered. We may see a pullback before falling further towards 1.44.

DJ, S&P 500 and STI 24/04/2009

Most indices are running in tandem here. Price has been consolidating for Dow Jones since the recent high on 17/04. A pullback should be healthy for the next move up. 38.2% or 50% retracement should be good before moving up as shown in the chart. However, if the price holds above the 23.6% level then we might see the next move up.

We also see a possible inverted scallop formation forming.

Similar formations on S&P 500 and STI. 38.2% retracement looks more likely.

Saturday, April 18, 2009

USD/JPY 18/04/2009

UJ has completed the 5 waves, the correctives have begun. We may see a top at wave b followed by a down wave c.

F and N 17/04/2009 - Update

F&N has moved up nicely as per my earlier post with a high of 2.77.

Wednesday, April 15, 2009

F and N 15/04/2009

F&N broke out of the falling wedge today with high volume. If volume continues to remain high we may see the price move higher up.

Dow Jones 15/04/2009

DJ has broken the up trend line. Need to be careful if it fails to close above the trend line. We also have a rising broadening formation which suggests caution on the long side.

Friday, April 10, 2009

USD/JPY 10/04/2009

We have higher highs and higher lows on UJ. Currently wave 5 seems to be unfolding which should give us more upside before the corrective waves begin.

KepCorp 10/04/2009

I have been following Kepcorp for quite some time now. Plenty of trading opportunities.
Over the past three months it has formed a nice Cup and Handle formation with a breakout and throwback complete. Now the price has moved above the breakout price giving a target of 6.34. We also have a rising broadening formation which implies that this move could also be short lived.

Sunday, April 5, 2009

UOB 05/04/2009

UOB has completed a throwback nicely and is almost near the recent high. Consider buying above 10.75. Near term target is 12.10.

Saturday, April 4, 2009

USD/JPY 04/04/2009

UJ is up 191 pips since the last update. I am holding onto the longs. We also see inverse head and shoulder pattern unfolding.