SPX Index 1136.08 to 1157.16, close at 1141.20
Fund/Traders push up the stock market index above 1150 to 1157.16 in early trade (low volume - can't sustain at 1150) and stock market trend down! Weekly chart shows stock market trend will cross 1150 upward again (higher volume) - expect the unexpected. Daily SPX chart RSI may cross below 50 marks before rebound again!
Today Range likely between 1135 to 1155 (same as yesterday). Strong support at 1130/1124 20MA.
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)
SPX Daily Chart
SPX Weekly Chart
Traders will be watching closely this sector stock market trend! Consolidating...
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 and trending up. Higher high and higher low.
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).
Consolidation and index mildly trend up this morning.
Stocks in this sector will trend up from mid October onwards.
Short Term market trend top near 3160 to 3170 range.
Year end Near 3250/3300, likely the stock market trend top (indicator)
SSE
Stock Market upward trend affected by government cramping down on property! But trend up 44.98 pts and closed at 2655.66. Nice gap up!
China's PMI (purchasing managers’ index) rose to 53.8 from 51.7.
Short term market trend will 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.
*** Note : Trade with cautions! Both SSE and HSI close today.
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