Market Update: 09 Feb 2014

DJI by right having inverse cup and handle where by the support @ 15720. However, friday closing above 15720. So now we shall see whether the green line able to act as the immediate resistance. If not we shall see DJI move to the next resistance level at around 16113. to form H&S.
If H&S formed, my target will be around 14900 by end of Feb.

STI in weekly chart showing a sign of rebounding candlestick. Apologies that i didn't on my 200d MA indicator. However the candlestick is below 200d MA. If next week the rebound able to sustain above 200d MA, we shall see STI go up to 3100. Two resistance level to watch out, if both break, bull will step in. First is the pink follow by the red resistance line.
However my view for STI still bearish.  My final target will be @ 2733 by end Feb.

Overall summary, DJI may been dropping past few days but it still within the uptrend channel till 14444 give way. So i may say DJI is still under the correction before the bear step in.
 As for STI, I guess the picture is much clearer for me to further explain. Bearish till 3247 give way. 


On the next following Monday, I will be going for my major surgery. (10days ward) So i won't be updating my blog till the beginning or mid March 2014. However both DJI & STI i have plot them in a longer view till end of FEB. Hopefully it hit my target by the time I'm back. 
I wish all my readers, all the best and trade well in the coming month. 

You are remind to trade base on your own risk. Plan and Trade well :)

Stock chart: YangZiJiang/THBEV/SuntecReit

YZJ which i mentioned before CNY. Double top formed. First target achieved @ $1.125. Currently we will see whether it able to reach the next target @ $1.04/$1.025.

THBEV also one of the counter i pointed out before CNY. No reason not to short it. First Target which i mentioned $0.505 achieved! Now heading to see whether can hit $0.495 (good volume) follow by $0.475 (why $0.475, just change your chart to monthly and you will know)

SuntecReit is been resisted by 200d MA. Thou past few days candlestick may seem bullish on this counter, however will it be due to news and cum-dividend whereby it lure all retailer to earn the dividend and since after Ex-D, all money start to flow out?

Overall summary, Since last week where STI start to dive down the deep well, we can short mostly all counters. However now STI still going lower, will it be safe enough to chase any short position or wait till a decent pullback? No matter what decision, You are remind to trade base on your own risk. Plan and Trade well :)