The reports caused DJI to climb back and closed above 16000. Many economists believed that with such strong data will allow the next FOMC to begin reducing $85 billion in monthly bond purchases at Dec 17-18 meeting.
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| DJI show a rebound after strong NFP data came in on friday night. We shall see whether DJI will continue its bullish trend or will be trending side way until FOMC. Perhaps late buyer which rush in after NFP data caused the bullish candlestick. |
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| STI finally broke through both 38% FIBO and symmetrical triangle. Currently with the strong NFP data on friday night perhaps may cause a pullback in STI plus with the "doji" candlestick closed on friday, high chance it may crawl back to close the gap which I highlighted in the chart or maybe back to 38% FIBO which turn from support to resistance. |
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| GentingSP is the current stock I am following closely to see how it turn out to be. Since STI may have a high chance to pullback on the coming week, GentingSP as a 30 component under STI may likely to follow too. |
Overall for the coming week:
STI seem to be isolated by other indices. It may not be affected by the strong NFP data which came in on last friday night. Do watch out STI closely & plan wisely for every single trade before trigger.
STI figure to watch out for:
Resistance: 3170
Support: 3100
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