Today STI closes at 2894. It has reached our target set of 2900 after standing above the support of 2640. Even if it broke above 2900, it still has a major resistance at 3000. I strongly believe to break through 3000 is never an easy task.
For STI stand above 3000, we need to focus our eyes on major reports coming out next week in US. The reports next week needs to be GOOD!
Of course, I encourage all who are short term investors to profit take 2moro like what the professional traders will be doing. You may want to SELL HALF your profitable positions if you are greedy.
Barring any sudden good news, I foresee 2moro afternoon at US (after 12pm Eastern Time, Singapore time 1am), you will see the market might starting to decline as traders wind up their positions before the weekend. In fact S&P 500 and Nasdaq is in the RED while DOW is green today. I suspect some players have left the market today.
My forecast is Monday might start off with a down day. Market makers might try to release some bad news to slow the confidence down. Let us see whether they are any bad headlines in the media. If there are, you will know it is the makings of the market makers. Knowing their game is important!
After Monday, please pay SERIOUS attention to major reports starting Tuesday 31st January 9.45am Eastern time with Chicago PMI. On Wednesday, there will be the ISM report (enterprise report) and ADP employment. To round it up, we have Non farm payroll and Unemployment Rate on Friday.
Any shortfall in ANY results next week will be an excuse for Shorting for the professionals.
For us retailers, let us see if we can participate in any SHORTING opportunities next week. Get your weapons ready! For options players, you might just buy a single PUT on S&P500 ETF 'SPY' or Dow Jones ETF 'DIA' .
Btw, we (ART Team) will be having a FREE workshop:
<<Singapore Stock Market Analysis for 2012>>
on 30th Jan (Mon) English Session OR 31st Jan (Tue) Chinese Session.
Do recommend your friends to this workshop!
Sharing on 1) Market Outlook for Year 2012
2) How to use Technical Analysis to select stocks
3) How to your money and minimise your risks
4) Using ART systems to select stocks
Date: 30th Jan 2012, Monday OR 31st Jan 2012, Tuesday
Time: 7pm - 10pm
Venue: 141 cecil street, Tung Ann Association Building
Tanjong Pagar MRT exit G, walk straight 80m, opp traffic light
Speaker: Andy Yew (ART system Founder, CFD specialist, trader)