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.

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.

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.

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.

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.

USD/JPY 27/02/2009

UJ broke down from the rising wedge as per my previous post. Today the price may continue to go down.

USD/JPY 26/02/2009

UJ has broken above the base as mentioned in my previous post and now moving towards the resistance on hourly chart. In the process it has also created rising wedge as showed in the chart. There is a possibility that it would trigger a bearish trend. I would take profit and remain sideline for now.

USD/JPY 25/02/2009

UJ has formed a base on the hourly chart. If it manages to break through the upper line of the blue channel, we can see more upside. However, it will turn bearish if it break below the lower line of the blue channel. For now, I have placed buy stops above the upper line to long for the short term.

USD/JPY 24/02/2009 - 3

UJ had a good run so far. It is now approaching resistance. I have closed my long positions for now. It doesnt mean it will not run up further. However, it may consolidate in the green channel for now. If it breaks the lower trend line of the channel, it may turn bearish again.

USD/JPY 24/02/2009 - 2

So far so good. The flag formation was successful as per my earlier post.

USD/JPY 24/02/2009

UJ has returned back into the uptrend channel. And it has also broken above the recent high of 94.64. We may see it continue its uptrend in the short term. We may see it test the upper trend line of the uptrend channel. Currently we can witness a flag formation on UJ, we might see it create a long blue bar if this flag formation is successful with good volume.
Stop loss should be below the lower trend line.

USD/JPY 21/02/2009

As mentioned in my earlier post, UJ has broken the uptrend channel downwards. We may see further downside next week. I have entered short positions near lower channel line.

USD/JPY 20/02/2009

UJ is current trading in uptrend channel (green). Resistance is around 94.64 which was a recent peak in Jan 09. Likely scenario is it will retrace from the peak forming a double top. If it manages to break out of the channel above 94.64, we can consider taking long positions.

However, we can consider short positions if it breaks out of the lower channel line downwards for a longer term trade. (More likely scenario).

USD/JPY 19/02/2009 - 2

Awesome!

USD/JPY 19/02/2009

UJ has broken out of the short-term down trend channel. Currently a potential flag formation is unfolding on 4H. If it manages to break through the neck line with good volume we may see a long up bar targetting above 94. Stop loss should be below the recent low.

STI 19/02/2009

ER for today for STI and some counters. All values are valid for today only.
Could manage to draw only for a few counters today due to time constraints. :(

Counter	ER	If broken upside	If broken downside
STI	1623 - 1648	1657	1623
Kepcorp	4.1 - 4.17		4.04
SGX	4.8 - 4.91
Wilmar	2.79 - 2.88	2.95	2.75
SPC	2.69 - 2.76	2.8	2.6

USD/JPY 18/02/2009

UJ has tested the red down trend line and retraced. I still dont have a clear short signal yet.
However, I have entered a couple of short trades just near the resistance line with stop loss just above it. Will add to the position if the shorts are triggered. Looks like the purple channel is still being played.

STI 18/02/2009

ER for today for STI and some counters. All values are valid for today only.

Counter	ER	If broken upside	If broken downside	Trend
STI	1629 - 1654	1696	1598	Down
Kepcorp	3.93 - 4.09	4.21		Down
SGX	4.54 - 4.85	5.08	4.8	Down
Wilmar	2.75 - 2.87			Down
Singtel	2.35 - 2.45			Down
DBS	7.83 - 7.98	8.2		Down
Capland	2.56 - 2.7	2.78		Down
SPC	2.62 - 2.71		2.59	Down

STI 17/02/2009

ER for today for STI and some counters. All values are valid for today only.

Counter	ER	If broken upside	If broken downside
STI	1662 - 1681	1691
Kepcorp	4.14 - 4.27	4.31	4.06
SGX	5.08 - 5.17		5.05
Wilmar	2.92 - 3.02	3.13	2.84
Singtel	2.49 - 2.56	2.6	2.42
DBS	8.1 - 8.21	8.38
Capland	2.66 - 2.74	2.88
SPC	2.67 - 2.78	2.85