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Thursday, March 23, 2017

STI

Showing signs of breaking down. Any break below 3115 could take the index down to 3050.


Wednesday, March 22, 2017

Dow

On 28 Feb this blog said that Dow could be close to its peak and on 2 Mar Dow had in fact hit its highest point at 21180. Dow fell 237 pts to 20668 on Tuesday,  its biggest decline since Trump election. Going forward Dow will continue to trend downwards with supports at  20275, 20090, 19900, 19723 and 19170. Traders are beginning to doubt Trump's ability to fulfill his election promises and they will be watching Trump's attempt at congress to repeal Obamacare. Any mishaps in Obamacare repeal effort will cause more selling in the days ahead. Traders also know that the  introduction of Border Tax and Infrastructure stimulus will have to wait for the outcome  of Obamacare repeal. Traders will likely run out of patience and it could trigger more selling.



Tuesday, March 21, 2017

Alliance Minerals

Heading skyward on lithium play. Company last reported promising presence of high grade lithium deposit drove the price from 0.2 to 0.245. Today the price broke the last high of 0.245. The next catalyst for this stock will be news of off take deals size. A sizeable off take deal will give analyst some tangible revenue base to value this stock and kick off the lithium product process. A big pre order off take contract can drive the price to 0.36.


Monday, March 20, 2017

US Dollar Index

The Dollar Index pulled back from 104 to 100 after Fed reiterated 3 hikes for this year on 15 Mar. However, this blog believe the medium term target of 106 remains intact following Nov 2016 breakout from 2015-2016 trading range. However a break down below 99 would imply that the breakout was not genuine.


Friday, March 17, 2017

Russell and S&P - Signs of impending US Market Correction

On 28 Feb, this blog warned of Dow peaking from analysis of Dow's trend cycle. Perhaps another sign of impending correction is seen on performance the Russell 2000 index of small cap stocks. They have stopped outperforming the S&P, the Russell index has risen 1.9% so far in 2017 compared to 6.5% gain in S&P.


Thursday, March 16, 2017

Noble

Company announced 10 to 1 share consolidation frightened traders into a knee jerk sellout! At the end of the day, it looks like traders got tricked, the BB scooped up the share on weakness and closed it at today high. The short term Price Action is pointing to more upside in the short term. It will be met with resistance from 0.22 to 0.225. A convincing break above 0.225 will signal strong underlying strength and upside to 0.255.


Tuesday, March 14, 2017

Robin's Master the Market Course - Last Call!


Robin's Master the Market course will be commencing this Friday! Contact Andy Tan from Cyberquote at 65050192, or email andytanst@cyberquote.com.sg to sign up!