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 :)