Market Update: 31 Aug 2014

Hello everyone.
OMG. TIME FLIES~~ Its been almost one month since my last post. Really busying. However not to forget to work life balance. Flying off to boracay this week. Can't wait to enjoy myself on the beach listening to the sea breeze ^^

Anyway market have been bullish even after a slight correction when DJI falling to 16200. While everyone is shouting market going bearish, market keep creating a new market high record! So beware when trading. Trade we tight stoplost. You might not know the moment when you enter long, is the moment when the turning point take place :)

Let us review some charts and how STI will perform for the coming week :)

STI: WOW! Those who practice TA should know a clear answer by looking at the candlestick itself! STI weekly chart showing 2 shooting stars! How to long? Beware!!!

 Ezra: Will be closely monitoring this counter! Patiently waiting for a clear signal to short it. However if overall market still feeling bullish, just wait till the right time to come :)

 Noble: Triple top? $1.35 is really a tough nut to crack it! But once it let go, we shall target $1.3 follow by $1.25 as final target! However watch out for certain confirmation signals such as break below $1.35 support, break below 100D MA & below the reversal candlestick :)

Keppel Land: Double Top? Wait for $3.4 to break and close below it! Follow the target as i plotted inside the chart.

SMRT: WOW WOW WOW! shoot up 63% in 3month! Can you believe how much strength it left?
SL: $1.59/$1.62
TP: $1.47/$1.43

Overall: Someone asked me "hey sean, Why all your chart so bearish de. all short?" Not because I choose to stand with the bear, but just bull (in STI) have been hugging with the market since Jan 2014. I feel that bull meat getting thinner compare to the bear meat. Market don't follow one way and i know is dangerous to anti-trend or catch the reversal trend. But as long as your reward-to-risk is well manage, you will be safe!.

If you guys got any questions. just simply drop me a email using "contact me", I will reply you ASAP :)

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