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Thursday, September 18, 2008

Singapore Stock Market near bottom?

Is Singapore Stock Market near bottom?

Do you remember I posted the Regional Indices – Support Levels? All had been broken!

So what's next according to the Global Expert?

SSE - if break 2047, then 1660, 1564
Hang Seng Index – if break 17913, then 14405
Nikkei – if break 12011, then 11739, 11663, 11186, 11039, 10807

What about Straits Times Index? Not in his radar screen leh.

Singapore STI is spineless, follows where-ever these Regional Indices are heading.

But yesterday STI hit and broke my 'bottom' indicator! Does that mean Singapore Stock Market had bottomed out temporary? No, it rebounded at close, so invalidated the indicator!

I shall remain cautious. This week is options expiration week for US markets, meaning market will be extremely volatile as market makers will want to 'kill' options holders, be it call or put depending on volume. Financial Astrology also forecast this week to be volatile. Moreover, all Regional Indices broke support and might head further down.

And remember the Hindenburg Omen – Crash Alert which I posted?

Be careful!

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