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Daily Reports Jan 2012
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admin
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Joined: 01 Jan 1970
Posts: 1350

PostPosted: Mon Jan 30, 2012 5:09 pm    Post subject: Reply with quote

After one week of consolidation and unable to break up Dow's is turning South with MAs starting to cut downwards. Dow was -74 on Friday to close at 12660. The uptrend is starting to turn downwards. Dow's future is now -73 and europe opened down.

Asian bourses were mostly down. Nikkei -18, ShanghaiC -34 and Hangseng -341. STI closed -29 at 2887. Volume was 1.7m shares.

The uptrend of STI is weakening.

Top volumes were Unifiber +0.6, GoldenAgri +0.5, EcoWise +0.1, Yoma +8, Noble -3.5, AdvSCT +0.1, Genting -2.5, Yongnam +1, Artivision +1.5, THBev +3.

Market opened flat but with other bourses all weakening, STI continued to slip down and went deeper with Europe opening down. It is about time that some corrections take place to allow some consolidation over the last few weeks of gains.

Overall market is still pretty stable though there was quite a bit of selling in the late afternoon.

What will happen tonight at Dow would determine how much more correction tomorrow. At the moment Dow is looking for a good correction. Europe is also correcting at the moment.[/code]
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redbean



Joined: 07 Mar 2006
Posts: 13855
Location: singapore

PostPosted: Tue Jan 31, 2012 5:18 pm    Post subject: Reply with quote

Dow had an intra day correction of more than 100 pts before recovering to close at 12654, -7. Trend of Dow is still down but the strong rebound makes it look quite steady. Dow's future is also up at the moment, +55. Europe also opened up.

Asian bourses were cautiously up. Nikkei +9, ShanghaiC +8, Hangseng +230. STI dipped to slightly negative but recovered when Europe opened up. It closed +18, day high at 2097. Volume was a high of 3.5b shares.

STI trend is flat but on the positive side.

Top gainers were Unifiber +3.5, GMG +1.6, AdvSCT +1.7, TopGlobal +0.2, Genting +2.5, HLH +0.3, ChinaFash -0.1, Noble +2, GoldenAgri -0.5, Oceanus +0.2.

The market was cautious with some play in the highly speculative worthless stocks that are less than 5c. Volume increased in the afternoon when sentiment was better. The play could continue for a while as long as Dow and Europe are steady.

Dow's future and Europe are looking good at the moment.
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what i posted is just my personal view. feel free to disagree.
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