The Weekly Review: Happy New Year!

It's going to be 2013! Currencies are getting funky now looking at EUR, USD and JPY charts. AUD/USD seems to continue to be bearish. Nothing much to trade as they get funky. Obama's speech on Friday caused the market to spin into negative. I would guess the market would continue to move up if not for Obama's speech.

US Stocks

Dow Jones bursted into bearish caused by Obama. We shall see how it goes in 2013.

Singapore Stocks

Those who bought Wilmar on the low, congrats! There might be more upside to come.

Yangzijiang is also looking good for a long.

Wish all a happy New Year!

The Weekly Review: We Survived The End of The World!

The EUR/USD and EUR/JPY has reached a resistance after a very satisfying up move. So one will have to wait for another test of low before buying in again. For those who are more speculative, one can short these two crosses as they hit a month resistance. My weekly timeframe is showing a bearish pinbar for EUR/USD. AUD/USD has tumbled down after 2 bearish pinbars. Congrats for those who shorted AUD/USD last week!

US Stocks

Seems Dow Jones Index has hit a resistance and coming down. Support was seen for Friday.

Wells Fargo failed to move higher after its support.

Singapore Stocks

Kepland had a freak rally on Friday going from $4 to a high of $4.26. I do not know what news came out for this stock but it was really a big one. After the high, profit taking by banks pushed it down to become a very big pinbar. Will it continue up more? Take some profit and I suggest waiting to buy another low will be better than buying the high. Profit from this stock would have netted you a handsome reward if you bought it at a low last month.

Time to short Osim?

For Wilmar, after a huge one day rise, it was pushed back down into a resistance zone. For the coming weeks one will need patience for this stock. Rewards will be very good if it manages to move up above.

Genting may be in consolidation mode. May have more upside.

Guess 21/12/12 was not the end of the world yet. According to the Chinese calendar, it is the winter solstice where everyone will gather together and have "tang yuan" soup. Well and according to some other sources about the Mayan lore, 21/12/12 marks the end of an era and comes a new age of "consciousness" which means will we gain new telepathic powers? Can we read minds and communicate without phones in the future? That will be exciting!

Singapore Stocks: Time for commodities

Properties have reached their current top. Time for commodities stocks to fly. Olam, Noble, Wilmar.

The Weekly Review: A New Trend

The Euro continues to be moving up after the retracement last week. Congrats for those who have bought on the low. EUR/USD had a pinbar on Thursday which then broke out of resistance on Friday. EUR/JPY is abit hovering on resistance, currently showing a bullish pin bar which signified that likely more upside is possible. If you look at the monthly chart of both EUR/USD and EUR/JPY, you would see that the trend is changing to bullish. It just needs to break out of the monthly resistance. On the other hand, AUD/USD is having trouble breaking up as you can see the repeated bearish pinbar. It does not mean that a good short is coming as it might be trying to breakout of a very strong resistance.

US Stocks

Wells Fargo is looking good for a long. This stock is also one of Warren Buffett's stock portfolio. In this case the call for upside is because of technical reason not investment.

Singapore Stocks

Yangzijiang is looking for a good long term upside if it manage to maintain its support.

But Cosco Corp still remains weak.

Genting SP broke out of its resistance, hence there is huge buying. Hmm.. will gambling stock continue its bull?

The Weekly Review: Stirred But Not Shaken?

After reaching a resistance point, the EUR had a big fall. But I it seemed to be supported at the last pinbar support. If it bounces back it will be a buy. The Aussie has been quite edgy as it became very volatile, however it seemed to be trending up slowly. I will probably stay away from trading AUD/USD. A good buy will be AUD/JPY, as it continues to be trending up. USD/JPY is consolidating now. USD will continue to gain strength overtime. The reason for the consolidation is because everyone is waiting for the decision on Fiscal Cliff.

A bullish pinbar has formed in GBP/USD. It is a very likely buy as the weekly timeframe is favorable for more upside.

US Stocks

The Dow continues its trend up. It has broken up. So it is likely it will continue its trend till news of Fiscal Cliff decision.

Interesting news is that Apple stock slumped 9%, forming a "death cross", which is when the 50-day moving average cross under 200-day moving average. To technical analysts, it means that it is a bearish indication telling you to sell. A "golden cross" is the opposite, indicating a long term bullish buy. This indicator is usually used for US stocks which has a longer history period.

Will Apple fall further?

Singapore Stocks

Singapore Stocks have been much in consolidation for many weeks. Other than this, property stocks have continued to be strong. Kepland, Captialand and CapMallsAsia still showing strength and making new highs. Commodity stocks continue to be weak such as Noble Group, Wilmar and Olam.

Olam has been in a fix lately because of Muddy Waters announcement that the company is having a big risk of debt problems. Before the news, there have been already selling of this stock (Must have been Muddy Waters). Simple technical analysis with a good stop loss will help to minimize your losses in this stock. The lines I have drawn is a pattern which is the underneath forms a increasing support. However, the support broke which the stock made a continuous sell even before the announcement of Muddy Waters. It was probably this period Muddy Waters was making the short selling. BBs are smart and they soon followed. Later the stock bounced back strongly cause of Temasek buying and short covering. Then things became complicated.... So I suggest stay out of Olam till things are clear again.

The Weekly Review: It's December!

The EUR had a very small short before it is rocketed up again by news that the fiscal cliff will not be a big problem. Hence you can see the supporting pinbar on the EUR/USD. EUR/JPY now sports a small pinbar from Friday's trade. However long term wise it is still a long for EUR crosses.

US Stocks

Google has been recovering from its big selldown.
US will likely still head higher till next year unless the fiscal cliff problem is not solved and will hit stocks hard. Very hard.

Singapore Stocks

Is Yangzijiang ready to move up or will it still hit a ceiling?

 Yet NOL and Coscocorp had a very big selldown on Friday. Is it a trick by the BBs?

Property stocks continue its run up. Capitaland, CapMallsAsia, Kepland, Yanlord are all moving up.

GLP has caught my eye as it had a very big bearish pinbar indicating a probable end to its bull run.