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Thursday, April 20, 2017


A month ago this blog has warned that Dow could have peaked at 21150. On 5 Apr, this blog warned that if the crucial support at 20515 is cracked, there is a risk that Dow could fall 400 points to 20100. Yesterday, it tested its 3 months low at 20410. It could stage a minor rebound from here, but as long as it stays below 20515, there is a good chance 20100 will be tested.

Tuesday, April 18, 2017


The last time it touched the 50 day MA in Dec 16, a huge rally followed. Today it touched the 50 days MA again but this time a correction may be on the cards. The price action is pointing to more weakness ahead. In the short term it could be headed for 3090 and eventually 3030.

Thursday, April 13, 2017

S&P 500 and the Dow on Wednesday closed below their 50-day moving averages

But both the S&P 500 and the Dow on Wednesday closed below their 50-day moving averages, a technical threshold they last closed under right around Election Day. The S&P fell below its 50-day of 2,351, declining 8 points to 2,344, while the Dow finished Wednesday beneath its 50-day, losing 59 points to 20,591.
The 50-day moving average is just what it sounds like — the average of the last 50 days of closing prices, and technical strategists look at a close below that average as a set up for a potential sell off. Traders will be watching how the stock market moves off of this level Thursday.

Tuesday, April 11, 2017


Has been kept down because of expectation of Fed hiking rates and the Trump's reflation story. With Trump's factor taking a back sit and geopolitical tension in Syria and North Korea taking centre stage, its time to look at Gold. Its a matter of time before it will breakout 1621 resistance. It formed a good based at 1200 and has been testing 1261 level many times. This blog believe the 1261 level will eventually be taken out and Gold should head towards 1290 in the short term.

Thursday, April 6, 2017


Made 5 attempts at 20725 last 1 month but failed to hold above. Next minor support is at 20617 but the important support is at 20515. If this level is broken there are only 2 clearly defined support at 20122 and 19955. This 2 supports are very far down from here and it could cause some panic in the market. Fed has turned hawkish, some Fed members even said the US markets are a overvalued in the the minutes of the FOMC. Investor's increased scepticism about Trumps's ability to implement its stimulus policies, including the most important corporate tax cut is causing concern. This poses a risk for the highly valued US market.

Market Depth Trading Strategies at SGX! Last night's topic was unusual. It attracted many seasoned traders. It was maximum capacity crowd at the SGX auditorium with many people left without seats. I shared about how to identify fake and real buy/sell queue, how to identify stocks that are controlled by program trading, how to integrate market depth with volume distribution and price action on the charts. I gave real case studies of stocks traded over the last days to show how market depth could be use to pin point price target. For those who cannot get a ticket to come tonight . SGX is considering a rerun due to the overwhelming response tonight. Stay tune to SGX academy website for the next seminar!