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Thursday, September 30, 2010

S&P500 (SPX), SSE n STI - Trader Stock Market Trend

S&P500/SPX (range bound) on low volume
Index 1140.26 to 1148.63, close at 1144.73
Today is quarterly closing day. No bad market news, Fund/Traders push up the stock market index above 1150! Range bound between 1135 to 1155
Short term market trend top 1170 to 1180 (higher volume near 1200)
Year end - Near 1250 and may cross 1300, likely the stock market trend top (indicator)

BDI (Baltic Dry Index)
Traders will be watching closely this sector stock market trend!
RSI crosses 50, shipping related stocks will be bullish.
RSI near 70, likely the stock market trend top for this sector (indicator)

Copper
Copper is Consolidating.
Near 400, likely the stock market trend top (indicator).

STI
Buy on dip on marine related blue chip stocks (Sembawang Marine, Keppel Corp and NOL).
Deception by Big Trader selling (suspect cross selling) in ONE big block this morning.
Stocks in this sector will trend up from mid October onwards.
Short Term top near 3160 to 3170 range.
Near 3250/3300, likely the stock market trend top (indicator)

SSE
Stock Market upward trend affected by government cramping down on property!
Short term market trend will soon re-cross 2700 and above.
Near 3150 (November/December 2010), likely the stock market trend top (indicator) for this year.
Near 3378/3429 (February/March 2011), likely end of primary bear market stock upward trend.

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