Market opinion…
Hi,
I have sent out the market opinion to email subscribers. Do check your email. If you have not subscribe to the mailing list, it is on the right side of this webpage. No obligation and you can opt out at anytime.
Got nothing much to say tonight…
except wait and see what the market is doing. A lot of stocks are at high but support is still holding (and so is resistance). So, just have to wait and let the market cook the dishes…
Apr 2, 2012 Weekly Singapore stocks with Jonathan Tan
US Market has its best quarter since 1998, and everyone is celebrating. Back in Asia, Hang Seng cracked the support but managed to recover whereas Straits Times is still in consolidation. Can Straits Times break resistance to go higher? Can Singapore stocks also fly higher? Find out what it is in this week video edition.
Remember to let your friends know about this video, ChartingAcademy.com, and Facebook. Thanks.
It has been a year…
A year ago, I got an idea of using YouTube to share market opinion after attending an Internet course that I felt would help more people trying to understand charts. I felt that instead of looking at a “dead” charts wondering what this trainer is typing about, by using video, one would see the feeling and expression and it would be easier to convey the analysis and one would learn more. Below is the first video I created a year ago.
As you can see, the quality then was really horrid and since then, I have invested in better equipment and software. But little did I realize what I had gotten myself into and just 2 weeks later, I quit being a trainer in that company due to a difference in opinion. And so, it started my journey talking to a webcam every single week hoping more people would benefit out from using the video. And it has been a year of video sharing for almost every week which I hope a lot of people had gotten its benefits.
In this one year, I would like to thank a few groups of people:
- This group was students from the previous training program that managed to find me here from word of mouth as somehow I just “disappeared”, and no way for them to contact me. I thank you very much.
- Members of public mostly from the word of mouth, other websites/Facebook or from searching it over the internet. A lot of the people from this group do know technical analysis and just happen to find me unique and listen to me every week to see if my views relates to theirs. I thank you for your support.
- People that constantly share my websites with their friends. I really appreciate your help and I thank you very much for your support and sharing.
- Over the last few months, I have gotten a lot of critique, people that watch me and pin pointing my mistakes and every time I make a wrong analysis (but kept quiet about the right ones). I thank you for making me stronger.
- All others that I fail to mention and to you if you are reading this, thank you very much.
I am so looking forward to the next 1 year because I know, this year is going to be a very good year, not only for me but also for everyone. A lot have changed in the last year and I can feel that there will be a lot more changes to myself and everyone too. So, I look forward to another good year ahead.
Olam – higher low seen but..
Olam, although formed a higher low, which is a bullish sign, it is now in overbought region. Which means there is a possibility that profit taking could be expected. Over the last 3 weeks, Olam has been trying to go higher, but the candles have small body. Could it be a slow but steady or it is just weak? One would have to watch the support and resistance line.
F&N – Bearish candlestick seen
F&N today formed a bearish engulfing candle. Those that have long position may want to set a trailing stop.
Explanation of email being sent out
About 7:00pm, I sent out this broadcast:
Hi,
If S&P500 closed below this morning’s low, then high
probability a high is in place. After a high is a low. Therefore
tonight US market could be crucial.
and I got quite a few emails asking for clarification. Instead of answering one by one, I might as well let everyone know here in detail. Apologies as I wrote the email in a hurry which may have caused some misunderstanding.
Ok, what I am trying to say is tonight Dow Jones performance could be crucial. If tonight Dow Jones, especially S&P500 closed below yesterday’s low (which is 1397.2), it could mean that US market could be into a possible profit taking mood. And if it does close lower than 1397.2, the Ben Bernanke rally that happened on 26 March has been totally bearish engulfed, and that is not so bullish.
And if US goes into profit-taking mood, it may also affect Asia market into profit taking. For those in long position, set your trailing stop or cut loss level.
Wilmar – forming descending triangle
If Wilmar breaks support of 4.86, then it is a descending triangle in play to the downside. remember, only if it breaks the support.
Sunway (on request)
Sunway right now is forming an ascending triangle. Resistance to watch is 2.75 to see if there is a breakout to go higher.
Straits Times short term trendline support
As long as Straits Times can hold on to the trendline support, bull still safe for now. Or else be cautious. Straits Times has not been following Hang Seng nowadays.
