Monday, August 1, 2011

Market Outlook

I just realise that I spotted the lowest point on 20 june posting when STI is at ard 3000 points! Last week STI just hit 3200, again, if you have followed you should be making money by now! So what is the current outlook for August? From the chart we can see that market is generally uptrending (Higher high, higher low, STI above 50ma and 200ma), however it is hitting Resistance at ard 3210. So Short-term beware of profit taking, mid term wait for pull back. STI support at 3140 follow by 3080.

Many investor are worried right now regarding the US debt ceiling problem, if the debt ceiling is not raise on 2 Aug it might trigger a Panic Selling around the world.. Hence i suggest not to hold too many stock with you right now, can consider to sell off those none performing stock in your portfolio. Wait for market to bottom and buy at Support level!

Market will be quite interesting if we break the resistance 3210.. Get ready your bullets..