Dow Jones (US)
This is the most interesting chart amongst the four that I've posted.
1. Flag of 4 days were broken very well and a very quick rise was seen, however, from what I see, this rise has nothing to shout about. It is still playing within the resistance range and has yet to test the resistance created a few days ago. Perhaps, despite the unemployment rates and issues with their property sales, something has to happen to further excite the people before that resistance is breached, maybe we can see it soon, hopefully.
2. Circled out in light blue, is a technical sign whereby there is still a bearish signal, the drop basically wiped out the previous rise, all after Mr Ben's speach. Ha! What influence! Or are there other reasons?
3. However, Friday's closing was quite pleasing. I'm not sure if it can be considered a hammer formation but then, from that stick alone, it is probable that next week, we can see more green on this index, maybe! The last of such formation was seen, pointed out in a blue arrow, in mid Jan. Let's see what can happen next week.
Hang Seng (HK)
Nikkei (Japan)
For the above charts, there is nothing much to shout about. HK is still quite far from anything yet, but then again, this is a group of easily excitable bunch.
Nikkei, on the other hand, is trending near it's resistance and has tested the support again on Friday. So perhaps once again, we can expect more greens next week =). We'll see.
STI (SG)
Home!
1. Other than the gap up being sustained, despite the drop on Thursday night on DJ, we are doing quite alright. Perhaps Mr Lee and the budget did have some effect on the local market, another influencial character. Don't play play!
Generally, for analysis purposes or monitoring purposes, these are the charts I look at. To re-establish the point that each markets open at different timings and each does affect STI, although I've excluded the European market but by then, it's already around 4pm.
From the charts, hopefully we can see a more positive reaction from the market, but there can also be a possibility that it might bouce of the resistance, else there'd be a lot of double bottoms formed. Do keep a look out.
Lastly, I'm reading into valuation and REIT so, if anyone of you knows anything about it, do drop me a mail, teach me! =)
Not forgetting, trade with caution.
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