Wednesday 7 August 2013

Nikkei consolidates in a directionless triangular pattern

Dear Friends,

Asian indices are consolidating. We can see it in the Local market like STI and KLCI. One of the reason is because the leading index for this year is now resting in a big triangular pattern. Like what we mentioned in our previous article, we don't expect Nikkei to break its peak of 16000 at least for the next 6-9 months.

Now it is resting. So does our local indices. Only DOW is hitting all time high again.

Not that easy market to play with. We need to probably spend more effort in picking the right stock. In general the market isn't moving much.

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