Sunday, December 28, 2008

Updates on market directions

The trading volume of the past 2 sessions were light due to the holidays. Any activities on the charts should be ignored. If chart formations is of any use, you should see plenty around. The volume characteristic is very convincing... was it coincidence that the light volume can be attributed to the festive season? Check out the few index charts that i am following:

Hang Seng Index: The ascending triangle pattern is taking form and I should not miss the breakout if it happens. We all know China is working very hard to pump up the economy and boy do they have money... although what they are doing may not immediately solve all the problems, but, it is how market respond to the news/actions by the government in the immediate time frame that matters to me. If the uptrend support cracks, then those 2 previous lows maybe where we can go long.

As for Dow, KLSE, SGX, really... there isn't much to observe about. Even the small pennant on STI is only good as a warning. It is too small and narrow to be of any significant movement. Let us not forget, budget day has been brought forward to Jan'09 and thus it may prop the market higher. I recall back in 2006... when we were having elections... we had a good run up to the election day while the rest of the world tumbled. After election day, STI made up for it's absence by jumping off the cliff like a bird without wings... This may be something to watchout for.

Oh by the way, 29th and 30th will be ChartNexus company off-days. We will be taking 2 days off to have fun and party hard.....of course those good food as well! keke Hence i will only check-in here at night. No matter how late... i will try my best to analyse the market... this is important to me. Because i want to make it a habit to blog. The lazy bug in me may manifest if i stop for just a day. I won't give it a chance!

DISCLAIMER: The contents in this website are for fun reading and must not be taken as a buy or sell advice. You must do your own analysis on top of my postings. By reading this blog, you agreed that i am not responsible for your trading.