back bear back

finally back after a long reprieve. gosh school is such a boring place because of the assignments and tests. if there were no assignments nor tests, i'd definitely enjoy going to school.

lets look at some short term technical outlook for this week. the past week had seen the market being trampled on by the bear due to various economic and environmental reasons. what's in store for this week? we'll just have to wait and see. but before we wait, we shall analyse the market's current direction and project next week's movement. ready? lets go.

for the case of SGX, i doubt next week's picture would be a pretty one unless something happens along the way which may change its course of direction. current stochastics shows a negative picture, indicating further downward movements while RSI remains below the 40% mark. MACD is already almost cutting the signal line (or has it already had a piece of the cake?) and is showing that yes down is the way to go. a technical picture from the charts shows that a support of 5.50 is likely after friday's close of 5.95. this would all depend on tomorrow. a negative session might carry the momentum further downwards through the week.

next up, Capitaland. current indicators show that it would be a good to short. with stochastics cutting the signal line negatively and RSI levels looms just above the 20% mark, the prices are weak. MACD is painting a sell portrait while it starts to cut the signal line again. a 3.80 may be calling? we'll just have to wait and see. technical charts shows that it may enter a short term consolidation before carrying on its momentum. moving down is the most likely option for the prices after the near term consolidation but the already weak prices may get hit even harder.

HSI has been pretty powerful these few days with its huge movements into the red. RSI is showing a slight diversion, making the near term outlook harder to foresee. however, sticking to current indicators, the downtrend is already present. stochastics and MACD are showing a likelihood of carrying the index downwards for the week. the index may consolidate tomorrow, but a sustained open below 20,000 would indicate the rather obvious.

STI took a hard hit as most of the companies took a blow. moving down 3%-4% over the past week is a huge feat, making me wonder where it would fit in on monday. in terms of a technical picture, indicators show signs of a continued downtrend even if it opens above friday's close. support at 2,600? indeed it was supposed to be but friday's session brought it a tad prematurely. if the movement sustains below this support level, then we could see a continuation of the trend for the week or so.

well thats all for me, my eyes are dead with the lack of sleep. enjoy the market week ahead and have an eventful trading session!