Monday 1 October 2012

Better to stay on the sideline on Monday for Singapore Market

Dear Friends,

Although Singapore market this few days seem slightly stronger than US, the wise thing to do is to wait for the ISM (Institute of Supply Management) Result on Monday night 10pm before entering any position.

Judging from the performance of the Chicago PMI report on Friday shows that enterprise might not be doing that well last month. The forecast is 52.9 while the actual result is 49.7. That is the reason why Dow Jones at the open on Friday dropped 100 points, but it did recover during the mid day to end at 49 points down.

This indicates something! The market is still "BULLISH". Currently Dow Jones seem to be able to recover from any bad news or report with ease. However knowing this, I would still advise all to stay on the sideline on Monday for Singapore market. Any shortfall from ISM might cause some damage for the day.

If it really falls short, I might make use of the opportunity to make a short term bullish play before Friday's non farm payroll (the mega report).

If ISM is good on Monday, get ready to enter the market on Tuesday for Singapore market and Monday night for US market. Market might celebrate until Friday.

These are the two scenarios that might occur. Good luck trading through the week.

This Friday jobs report will be significant.


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