Monday, March 21, 2016

Singapore & Global Market Updates 21 March 2016

US market Near resistance
DJI  -18000-18300, S&P500 2080, Nasdaq 5080-5250
Since 2015, we have not seen Dow jone index break above 18300, this has become a very strong resistance, where trader fear. So most will sell when  DJI is near this level to play safe.


This Friday is holiday for most market, we shall see lower trading volume towards the weekend.

SSE bullish turn around, above 2640 Support level, Hangseng above 18300 Support level, as long as it can stay above the support level, it is good.

Singapore market as mentioned 2 weeks ago, blue chip stock going to take profit as market is currently in an overbought position. In my previous post, I mention that the market has reach a oversold position and hitting a strong support at 2550

Previous post ==>STI Market Updates - Whats next after Big selldown (Febuary 10 2016)


Singapore market usually wont go up in a straight line, we will see profit taking, and some sell down to test the support and confidence level of investor. If support and confidence level is strong, then we are ready to make a higher high for STI

US market get a booster last week after Fed meeting, Fed chairwoman Janet Yellen announced new projections that indicate the number of interest rate hikes would be cut from four to two this year

You should watch China Market now - SSE break resistance last friday, now is at 3 month high - above 2950 is bullish.
A slower pace of US interest rate hikes is an advantage for the sluggish Chinese economy as it slow down the RMB depreciation.

Weaker USD will encourage investor to put money in commodities and properties sector.
one of the Key factor for the recovery of China economy is is Real estate sector, as it accounts for more than 15 percent of the gross domestic product(GDP) which also affects 40 other sectors.
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