A peek into the weekly charts

Bear Stearns gave market a poisonous shot. This investment firm was the first to admit the subprime issues they were facing and last week, they scored another first....They seek rescue plan. My food nearly spilled out from my mouth when Dow dropped over 300 points from up 50.(I was watching US market live that night). Monday's opening is expected to be weak. However it is how the week finish that will be interesting as I see Dow and STI at critical support. I'm sure i am not the only one who is watching this level. Hence it makes it very interesting going forward. If we break this level, you can be sure of the selling strength! Obviously if this level is protected by "invisible hands", it may be a good time to load up to play the rebound? I still favours rectangle trading as described last week.



STI: Index closed slightly below the long term uptrend line. This is the lower end of the range, and with Friday's closing, we had a homing pigeon pattern. This is a bullish reversal pattern and support will be taken at the lowest of the pattern for now. Given the weak closing of Dow on Friday, this pattern looks set to fail. But as mentioned above, STI's weekly chart finished last week with an inverted hammer. Anticipation will be for the week to close higher than previous week. With Ben speaking on 18th, we do have a chance.



Dow: Trading near the trendline support and the weekly chart closed with an inverted hammer as well. Major support may be at 11,300, which means to say, there is more room to fall for Dow. Money Flow index looks to be oversold, this index is particularly sensitive to the extreme in the range. It will be useful to follow the flow of money!



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Stock Screening from XPertTrader:
Stocks with high volume.

No. Stock Name Triggerred Date Triggerred Rules
1 CDL HTrust 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
2 Cosco Corp 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
3 CSE Global 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
4 FIRST RESOURCES LIMITED 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
5 KS Energy 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
6 M1 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
7 MACARTHURCOOK INDUSTRIAL REIT 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
8 ManOri US$ 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
9 MMP Reit 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
10 Olam 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
11 PFood 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
12 SPH 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
13 ST Engg 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
14 TAC 200US$ 14 Mar 2008 ((Average volume has jumped by at least 30.0%))
15 Unisteel 14 Mar 2008 ((Average volume has jumped by at least 30.0%))


Sell Signal Triggered for Parkway

DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.