S&P500 / SPX
SPX Index 1151.41 to 1163.87, closed up at 1158.06 on low volume
Market (RSI) near overbought. Daily SPX chart RSI may cross below or near 50 before rebound again!
Today (same as yesterday) likely range 1150 to 1170. Watch employment data. Consolidate down to 1150 pivot resistance will be healthy for bullish market trend. Strong market trendline support at 1150/1132.
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 (market trend indicator)
BDI (Baltic Dry Index)
Stock market day traders
and fund Traders will be watching closely this sector market trend! Transport sector has impact on the economy fundamental! RSI > 50, bullish. Monitor MACD cross over signal!Daily chart, cross 50MA trendline resistance. Downside risk minimal unless G7 countries post out negative impact news! Unlikely scenario...
1st resistance 2662 (20MA) - Cross over!
2nd resistance 2881 (200MA) - Awaiting...
RSI > 50, shipping related stocks will be bullish.
RSI > 70, likely the stock market trend top for this sector (indicator)
Copper market trend consolidating - positive sign. Higher high and higher low. Daily chart RSI - overbought. Weekly RSI chart near overbought. Traders market direction - closely watch trading indicator.
Near 400 (likelihood new higher high next few months), likely the stock market trend top (copper indicator).
STI equity market consolidating. STI index (RSI near overbought) will consolidate around 3140 to 3163 range (same view as yesterday). Higher low and buy on dips laggard blue chip equities - marine related blue chip stocks investment (Sembawang Marine, Keppel Corp and NOL). Property sector (Capitaland, Keppel Land, etc.) also a laggard and may surge on good quarterly P/L – may consider for intermediate term equity investment. Stocks in this sector will trend up higher high from mid October onwards.
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 last Friday. If no further property curbing, SSE will trade upward after golden week holidays.
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.
Equity/Stock Market Sentiments – CBOE Options - $CPC
Bear Market Bearish sentiments as observed from CBOE options. $CPC chart bullish from 0.078 (7th Oct) to CBOE options closing 1.07 index (CBOE Options Total Put /Call Ratio). Need higher equities accumulation volume to sustain next week bear market bullish rally.
CBOE Options $CPCI chart (Total Index Put/Call Ratio) shot up from 1.3 to 1.69 (is this a deception or mild reversal next week during CBOE options calendar closing). Bear vs Bull - who will win?
My view mild consolidation and bearish market bull sentiment will charge up the “small hill” before sensing for direction – TRADERs set the short term equity investment direction!
McClellan Oscillator Indicator showing sign of market trending down! Low volume market trend – short term cyclic. Near short term market trend top indicator. May up mildly this week before reversal.
Note : No major negative event/reversal, stock markets will trade higher high and higher low.
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