Thursday, 22 August 2013

It does not seem the weakness in DOW is stopping

Dear Friends,

I am looking for a pullback in the DOW after the FED minutes to save the fall. But it didn't. 6 days losing streak....the longest for this year.

The DOW has now fallen about 4.5% from the high. When the FED minutes is released at 2pm, DOW seems to go back up a bit.

But now before closing, it comes back down to end 100 points down. Let us see if the Jackson Hold meeting starting 2moro gives any indication of a reversal. A triple digit increase would gives the push the market needed.

Having said that, STI has a support region around 3000-3100. The last low is around 3060. So I am looking at a strong support around that region. But all things do depend on US market.

Let us be a bit patient. Time to do your homework and see which are the stocks to look at. I will give my views of some singapore stocks at the next article.

Stay tuned...

Rgds
Daniel

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